Wednesday, May 28, 2014
Ole acquires Rush catalog
ole has purchased Core Music, the 40-year home of Rush's music publishing, and will manage the music publishing affairs of the band for the foreseeable future.
Says ole Chairman and CEO Robert Ott, "ole is very honored to have been chosen by Rush to manage their incredible living legacy and to be a partner in their ongoing creative journey in music publishing. ole looks forward to working hard to ensure that Rush's music continues to find new and wider audiences."
Geddy Lee, singer/bassist of Rush, said, "We are pleased with the news of Core Music's deal with ole and happy that our publishing will be handled by a Canadian company with worldwide expertise."
"With the changing times in the music business, the responsibilities of a publisher have become much more complex. This deal will allow me to devote my time and energy to managing the live touring and recording aspects of Rush's ongoing career," said Ray Danniels, President of SRO/Anthem and Rush's longtime and only Manager.
As part of the ole-Core deal, Pegi Cecconi, who has overseen the administration of Core Music since inception, will continue to work full-time at the management and label home of Rush, SRO/ANTHEM, but will also take on a consulting role with ole in regards to the vast Rush catalogue.
The terms of the deal were not disclosed.
Ole CEO Robert Ott declined to comment on the exact terms of the deal but did tell Billboard the following:
... "I am not going to talk about money, unless we are going to talk about 'Big Money,'" the opening track on Rush's 1985 album, "Power Windows." ... Ott noted that the catalog could produce greater revenue and profits because "there hasn't been a lot of synch business in the past...There is more openness to exploring opportunities on that side now." But he added that ole would be "very careful about the ideas we bring to the table to promote their music." Beyond synch, Ott says there might be more ways to work the catalog outside North America, too. "This band has a worldwide audience," Ott notes. "We will look for opportunities everywhere the band has toured." Finally, Ott notes that he is proud ole was chosen to cultivate the Rush catalog going forward. "It's not every day you get to work with a catalog that made up the soundtrack of your life," Ott says.
It's not readily apparent what all of this means to Rush fans except that it's likely we may be hearing more Rush music in commercials, video games, TV shows, movies, etc. in the coming years. Thanks to Paul V for the heads up.