Business

Calvin Harris Sells Publishing Catalog to Vine Investment Firm for Estimated $90 Million-Plus

Calvin Harris
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Calvin Harris attends The BRIT Awards 2019 held at The O2 Arena on Feb. 20, 2019 in London.

Vine Alternative Investments has acquired the rights to the more than 150-song publishing catalog of Calvin Harris, the Scottish electronic DJ, producer, singer and songwriter known for such hits as "Summer," "Feel So Close" and Rihanna collaborations "We Found Love" and "This Is What You Came For."

Sony/ATV Music Publishing will continue administration services for the catalog. While further details of the transaction were not disclosed, a source familiar with the value of Harris' catalog estimates that the purchase cost Vine between $90 million and $110 million.

"Vine’s process was extremely smooth," said Harris' longtime manager and Three Six Zero CEO Mark Gillespie. "We valued their quick response time, exceptional knowledge of the space and straight-forward approach. We are very comfortable that they will be great stewards of the catalogue."

Harris has worked with superstars spanning a wide range of genres, including Dua Lipa, Sam Smith, Frank Ocean, Travis Scott, Ariana Grande, Big Sean, Khalid and Pharrell Williams, accumulating more than 30 billion combined audio and video streams over his career history, according to a press release from Vine. His numerous accolades include earning a best music video Grammy Award in 2013 for "We Found Love" (and five total career nominations), four MTV Video Music Awards (14 total nominations) and also in 2013, the prestigious Ivor Novello Award for songwriter of the year.

"We approach the music space the same way we have always approached the film and TV space, with an eye for and an appreciation of, the world’s most iconic content," added Vine's partner in charge of music sector investments, Rob Amir. "The addition of Calvin Harris hits across multiple genres to our catalogs is a continuation of our pursuit of building a multi-genre media ecosystem that not only respects, but honors the artists we partner with."

Founded in 2006, Vine focuses on "unique, non-correlated investment opportunities in the media and entertainment sector," according to its website. It has invested close to $1.4 billion to that end, and marked its inaugural deal in music last month by acquiring the rights to the 100-song publishing catalog of producer and songwriter Sean Douglas (Demi Lovato, David Guetta, Lizzo).

Harris was advised by Laurie Soriano at King, Holmes, Paterno & Soriano, Thomas St. John at Thomas St. John and Gillespie. Vine was advised by Michael Poster at Michelman & Robinson and Danny Strick at Chase the Dragon.