Warner Music and BlackRock Invest $750 Million in Influence Media, Female-Led Music-Rights Firm
Jem Aswad Senior Music EditorBlackRock and Warner Music Group have invested $750 million, in partnership with Influence Media, to acquire music-rights catalogs from female and diverse artists, a source confirms to Variety.Rather than joining the fray pursuing catalogs of iconic, older white-male artists like Bob Dylan, Bruce Springsteen and David Bowie, the female-led Influence, which was founded by Lylette Pizarro (formerly a partner at RPM GRP) and Lynn Hazan (formerly CFO and GM of Epic Records) is focusing on newer, active catalogs, and plans to work with the artists, which will retain a stake in their work.While companies like Hipgnosis Songs also have invested in what are called “shallow” (i.e. more recent) catalogs from contemporary hitmakers like Jeff Bhasker, this partnership has already invested $300 million in 20 catalogs, including Puerto Rican powerhouse songwriter-producer Tainy, known for his work with Bad Bunny, J Balvin, Rosalía, Shawn Mendes and Cardi B’s “I Like It.” The news was first reported in the Wall Street Journal.