Business

Primary Wave Acquires 50% Stake In KT Tunstall's Royalty Stream In Wide-Ranging Deal

KT Tunstall
Piper Ferguson

KT Tunstall

"KT is a rare songwriting talent who writes songs that move you with a story," says Primary Wave CEO Larry Mestel.

Primary Wave has acquired a 50% share of both publishing and master recording royalties from Scottish singer-songwriter KT Tunstall's catalog, including such tracks as "Suddenly I See," "Black Horse and the Cherry Tree" and "Other Side Of the World." Terms of the deal were not disclosed.

On the publishing side of the deal, Primary Wave has acquired half of the publishing and half of the songwriter's share, and the same percentage for her master recording royalties, which are distributed by various labels, with earlier Tunstall albums owned by the imprints that issued them and later titles said to be owned by the artist.

"I have been a fan of KT from the moment I saw her first showcase at Virgin Records in 2005," Primary Wave Music Publishing CEO and founder Larry Mestel said in a statement. "KT is a rare songwriting talent who writes songs that move you with a story. We are honored to have her in the family."

With Primary Wave, Tunstall will have access to the company's marketing and publishing infrastructure, providing digital strategy, licensing, synch opportunities and the marketing of her name and likeness, in addition to managing all daily digital marketing activities.

According to MRC Data/Nielsen Music, Tunstall's catalog has generated almost  2.3 million units in album consumption activity in the U.S., including 21,000 units last year.

"It is absolutely re-energizing in today's challenging music landscape to connect creatively with Primary Wave and to discover our mutual joy for the craft of songwriting, and still hold it in greatest of respect," Tunstall said.

Besides Tunstall, other recent acquisitions and/or partnerships announced by Primary Wave in the last six months include the catalogs of Leo Sayer, Dan Wilson, Stevie Nicks and the Four Seasons.