Acquiring Tourist Catalog
Canadian music rights management company KILOMETRE MUSIC GROUP has acquired the catalog of UK electronic artist, producer, and songwriter WILLIAM “TOURST” PHILLIPS. The deal includes SAM SMITH’s GRAMMY-winning “Stay With Me,” co-written by PHILLIPS.
The song earned him a GRAMMY for Song Of The Year in 2015 and remains SMITH’s most-streamed song to date with over 1.7 billion SPOTIFY streams.
The acquisition also includes TOURIST’s electronic music releases: “Tonight” (2013), “Patterns” (2014), “U” (2016), “Wash” (2017) and “Everyday” (2019).
KILOMETRE has also secured a $50 million Credit Facility with financial services firm PINNACLE FINANCIAL PARTNERS, a NASHVILLE-based investor with $45.1 billion in assets, including $2 billion in the entertainment sector.
KILOMETRE was launched by industry veterans MICHAEL McCARTY, GAVIN BROWN and RODNEY MURPHY to buy music rights created in CANADA.
In FEBRUARY 2021, KILOMETRE partnered with TORONTO-based investment firm BAROMETER CAPITAL MANAGEMENT, INC. which currently manages more than $1.1 billion in assets, forming the BAROMETER GLOBAL MUSIC ROYALTY FUND, a limited partnership with a “targeted size of USD $200 million.”
Last JANUARY, KILOMETRE acquired the song catalogs of MURDA BEATZ and BRYSON TILLER.
KILOMETRE President Of A&R & Acquistions RODNEY MURPHY stated, “’Stay With Me’ is one of the greatest songs written in the last 20 years and it will surely stand the test of time due to its universal themes of vulnerability and heartache.
“This song is a crown jewel of the KILOMETRE portfolio, and we are very proud that WILLIAM has trusted such an important piece of his songwriting brilliance with us”.
Added PHILLIPS, “I am thrilled to have KILOMETRE represent this portion of my catalog. I know they will treat my music with the utmost care and am proud to be amongst the other talented songwriters who have partnered with them.”
PINNACLE SVP/Music, Sports & Entertainment BRETT ROSS said, “We’re extremely excited to begin our partnership with KILOMETRE and the BAROMETER FUND. KILOMETRE has been able to amass one of the most impressive collections of music rights in such a relatively short amount of time.
“Their ability to forge long-lasting relationships with artists, songwriters and producers aligns greatly with PINNACLE’s goal of supporting the creative community across the globe. We look forward to partnering with KILOMETRE towards the continued growth of the BAROMETER FUND.”
