By CultureBanx Team
Sony/ATV will administer the music publishing catalog of Q&A
Troy Carter launched Q&A in April 2019
Music industry veteran, tech investor and former Spotify (SPOT +2.24%) executive Troy Carter and J. Erving’s new Q&A business has linked up with Sony/ATV Music Publishing. Their music and technology group was just launched in April, and under this partnership publisher Sony/ATV (SNE +1.95%) will administer the music publishing catalog of Q&A. While the music industry’s annual global recorded revenues between 1999 and 2014 declined from an estimated $27 billion, music publishers have thrived and is the catalyst for this deal.
Why This Matters: Q&A aims to offer a variety of technologies and services to artists like distribution, management, label services and data analytics. It includes Human Re Sources, a digital distribution and label services company that Erving started last year. Prior to its merger with Q&A, Human Re Sources’ roster of artists, included Pink Sweat$ and passed more than 1 billion streams in less than a year. Q&A has a stated goal of creating an ecosystem where entrepreneurial artists are supported throughout their entire career.
Let’s due a quick history lesson here. Sony/ATV, is a joint venture that Sony created with music icon Michael Jackson back in 1995 and administered the full EMI publishing catalog through. Fast forward to 2016, Sony bought out the Jackson estate’s share of Sony/ATV, whose crown jewel was the Beatles song catalog for $750 million. Due to the estate’s 50% ownership of Sony/ATV they inherited 10% ownership rights of EMI publishing. Sony purchased the final 10% from the Jackson Estate for $287.5 million, according to an SEC filing.
Situational Awareness: As a major industry player Carter’s role at Spotify as head of global creative services, was preceded by becoming the founder of Atom Factory. Some of their notable management clients included Lady Gaga, Meghan Trainor, Nelly and Charlie Puth. Carter has acted as a strong and vocal liaison between the artist and industry communities. This deal with Sony/ATV for his artist services business Q&A is the perfect amalgamation of his skillset.
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