Blackx, a new Asia-focused music fund, has acquired the catalog of Taiwanese songwriter, Frances Wang (Zhong Yan), spanning over 230 songs.
The deal is among the first of blackx’s catalog purchases in Asia after the fund launched in late September with an initial USD $100 million in financing.
The acquisition of Wang’s catalog covers 30 years of the songwriter’s career and includes award-winning hits performed by Asian artists including Faye Wong, A-Mei, Jeff Zhang Xin Zhe, Oaeen, Eason Chan, Wan Fang and Tiger Huang Xiao Hu.
Blackx describes Wang as a “highly sought after” songwriter because of her signature blend of poetic prose that showcases complex emotions.
Taiwan-based Wang is an influential figure in the Chinese music industry and has collaborated on various artistic challenges that have seen her become a filmmaker, music executive producer, and author. Wang is currently working on a movie screenplay.
Commenting on the acquisition, Wang said: “It’s extremely fulfilling to be able to partner blackx on their strategy to enable both artists and investors to participate equitably and efficiently in the economy of Asian music. blackx’s creator-first approach to acquiring, creating and distributing IP and amplifying content is both appealing and exciting to artists and content creators alike.”
“I look forward to scaling our collaboration to even greater heights in the future,” said Wang.
Garand Wu, president of Greater China at blackx, said: “As a seasoned and well-loved music industry veteran, Frances’ lyrics carry depth and emotion that appeal across genres and ages. Her catalog will provide us with a huge amount of captive, ready content to work with in terms of how we can transform and amplify these into different formats and promote across platforms.”
“At blackx, we will work with creators to expand and optimize the breadth of their assets across their properties and business segments, so that we can maximize the life and revenue potential of these musical assets,” Wu added.
Wu is a veteran musician and music executive, having held senior industry roles that span live entertainment, media, and music across Asia.
Meanwhile, blackx said its collaborative approach with creators allows them to continue generating more valuable and compelling musical content, while blackx supports them in nurturing the value of their IP by pursuing creative and commercialization efforts like artist and repertoire management, publishing, marketing and promotion.
The Asia-focused fund is managed by Prime Asia Asset Management, and is led by its founder and Group CEO Chee Meng Tan.
Tan has more than 25 years of experience in senior roles across media, technology as well as both independent and major labels. He was previously hired to lead Asia expansion plans for ADA, Warner Music Group‘s independent label and artist services arm.
In an interview with MBW in September, Tan said blackx’s goal is “to be the leading artist-centric creative rights platform in Asia, furthering understanding and deepening appreciation for Asian culture globally.”
When asked about what the company is looking for in the catalog that it acquires, Tan said: “We are very considered in our curation and will allocate resources to support unique creations that we believe will contribute meaningfully to the appreciation of the Asian culture.”
“Most importantly, the catalogs will have to benefit under blackx’s stewardship for both the creator and investor.”
Music Business Worldwide