SONGS Founder Matt Pincus Joins Snapchat & LionTree
Six months after selling SONGS Music Publishing to Kobalt Capital, Matt Pincus announced on Tuesday he is back at work. The EMI veteran and former Judge bassist has joined LionTree, the investment bank that served as advisors in the SONGS/Kobalt sale, as executive in residence.
"I chose LionTree for SONGS because they are the rare financial advisor that understands the people and the markets around music, entertainment, and technology," Pincus said. "I am excited to work with them in helping them advise companies looking to scale, transform, or realize value."
Pincus added that LionTree helped SONGS achieve a "spectacular result" in its sale, believed to be about $135 million.
Pincus also said he is taking on a special advisor role at social media giant Snapchat, where he'll "have the opportunity to help this innovative, creative technology [company] think through ideas and strategies around music."
A graduate of Columbia business school, Pincus launched SONGS in 2004. After more than a decade of growth through inking long-term deals with Lorde, Diplo and others, Pincus said last year that he'd reached a point where doubling the size of his company would have been too expensive a proposition.
"The price of signing songwriters has skyrocketed, and the prices of catalog are stratospheric," Pincus told Billboard at the time. "We don't have any outside capital at Songs -- we invest our own money."