Is Iconoclast the new powerhouse in the music rights acquisition space?
The Los Angeles-based acquisition vehicle has been acquiring the rights to music catalogs from major artists, spending over $300 million in total, according to sources.
The latest addition to Iconoclast’s portfolio is the catalog of Mad Decent Publishing, the label co-founded by DJ and producer Diplo and Kevin Kusatsu.
The acquisition includes hits like Major Lazer’s “Lean On,” and Baauer’s viral sensation “Harlem Shake.” Iconoclast’s CEO, Olivier Chastan, says that his company has a “strong focus on technology” and wants to make “legacy artists relevant in the future of entertainment.”
Iconoclast has already acquired music rights to other legendary musicians like Robbie Robertson and Irving Lorenzo’s Murder Inc. Additionally, the company aims to explore technologies like immersive entertainment and blockchain.
While Iconoclast has not disclosed the fee for its latest acquisition, the company's sources suggest that it is backed by Pimco, which has over $2 trillion in assets under management.
Iconoclast's acquisitions indicate a new era in the music rights acquisition space, which highlights the importance of preserving and growing culturally significant art from any era. With a strong focus on technology, the company aims to innovate the entertainment industry by combining technology and music to create unique experiences for music lovers.
Ultimately, this highlights the significant shift happening in the music industry and the importance of adapting to technological advances.