BMG PAYS £10M TO ACQUIRE RIGHTS TO WALKING ON SUNSHINE
AUGUST 7, 2015 BY TIM INGHAM
BMG has acquired outright the publishing and master rights to ’80s pop hit Walking On Sunshine – and demonstrated just how much it values the track.
The music rights company has laid down £10m to buy the catalogue of the artist behind Walking On Sunshine, Katrina & The Waves.
That’s not far off double the price it paid to acquire Infectious Music last year.
BMG UK EVP Alexi Cory-Smith said, “’Walking On Sunshine’ is a classic copyright, an instantly recognizable song and a very powerful addition to our roster.”
BMG has targeted sync opportunities as a priority for the catalogue – clearly a key area where it believes it can earn back the purchase price.
“WALKING ON SUNSHINE IS A CLASSIC COPYRIGHT AND A VERY POWERFUL ADDITION TO OUR ROSTER.”
ALEXI CORY-SMITH, BMG
BMG EVP Marketing & Sync Patrick Joest said, “The striking thing about ‘Walking On Sunshine’ is its ability to work across virtually every medium from film to TV and advertising – and in virtually any product category.
“It is a song loved around the world, working across cultures and languages”
‘Walking On Sunshine’ forms the centerpiece of the Kyboside catalogue, which includes rights to nearly every song written or recorded by Katrina & The Waves and the band’s primary songwriter Kimberley Rew.
These include the 1997 Eurovision winner ‘Love Shine A Light’, the last UK entry to win the song contest, and ‘Going Down To Liverpool’ which was covered notably by The Bangles.
Walking On Sunshine was first released in 1985, reaching number 8 in the Official UK Singles Chart and number 9 in the Billboard Hot 100.
It has a track record of sync usage, in advertising, feature films, TV shows and video games and has been covered by artists ranging from The Muppets to the Cast of Gleeand Dolly Parton.Music Business Worldwide