Sources close to a highly competitive industry pursuit for the Imagine Dragons catalog tell MBW that the price definitely went above $100m before Concord locked the deal down.
MBW understands that Concord has acquired the writer’s share of the catalog, in addition to a co-publishing share, in perpetuity. The other co-publishing stake is owned by Universal Music Publishing Group, which will continue as the catalog’s current administrator.
Las Vegas-based Imagine Dragons have sold 20 million albums worldwide, as well as 35 million singles (RIAA-certified) in the US. They made their mark in 2012 with debut album Night Visions, which contained global hits Radioactive and Demons.
Since then, they have released three more US Rock No.1 albums (Smoke + Mirrors in 2015; Evolve in 2017; and Origins in 2018) as well as racking up billion-stream hits on Spotify with Believer and Thunder.
Radioactive, which won Imagine Dragons a Grammy for Best Rock Performance in 2014, is one of only 37 songs in history to be certified Diamond, or 10x Platinum, by the RIAA.
“Concord has stuck to the same basic acquisition philosophy since day one: We’re honest, we’re fair, we’re fast, and everyone out there knows we have the financing to write the check.”
Steve Salm, Concord
Steve Salm, Concord’s Chief Business Development Officer, said in a statement: “Concord’s acquisition strategy has remained consistent since 2006. Simply put, we acquire catalogs from creators and owners with songs that the entire world not only recognizes but loves.
“A to Z, our portfolio is comprised of some of the most culturally recognized and revered songs and recordings in history. Imagine Dragons fits perfectly in that realm. Our publishing team proudly welcomes Imagine Dragons, and its unparalleled songwriting and performance success in the past decade, to the treasured catalogs that already call Concord home.”
Contacted for further comment by MBW, Salm replied: “Concord has stuck to the same basic acquisition philosophy since day one: We’re honest, we’re fair, we’re fast, and everyone out there knows we have the financing to write the check.”
“We are honored that Imagine Dragons has chosen Concord and are excited to add another legendary band to the Concord catalog.”
Jake Wisely, Chief Publishing Executive at Concord, added: “Imagine Dragons are a rock powerhouse. From topping the charts to sweeping awards to sync and sell out tours, Imagine Dragons’ success is undeniable.
“We are honored that Imagine Dragons has chosen Concord and are excited to add another legendary band to the Concord catalog.”
The transaction was managed and negotiated for Concord by Steve Salm, Larry Blake and Amanda Molter.
Imagine Dragons’ team was led by John Rudolph of 1.618 Industries, Inc. (formerly Music Analytics, a music IP advisor) with counsel provided by Jason Karlov and Amanda Taber of Barnes & Thornburg and Robert Reynolds of Reynolds and Associates.Music Business Worldwide
