Primary Wave Acquires 70% Stake in Air Supply's Royalty Income Stream

Air Supply
Michael Ochs Archives/Getty Images

Air Supply

Primary Wave has acquired a 70% stake in Australian soft-rock duo Air Supply's music publishing catalog and artist master royalty stream, the company announced Wednesday (Feb. 5). The multi-million dollar deal includes hit singles such as “All Out Of Love,” “Lost In Love,” “Making Love Out Of Nothing At All” and “The One That You Love,” which hit No. 1 on the Billboard Hot 100 in July 1981.

The publisher acquired the stake directly from Air Supply members Graham Russell and Russell Hitchcock. Under the agreement, Primary Wave will work with the pair to market their catalog while also pitching licensing and sync opportunities, though it does not include publishing administration rights, which remain with Universal Music Publishing Group and Warner Chappell. Master rights to the songs remain with the labels; Sony Music owns the rights to the group's biggest songs. 

“Graham and Russell are two of the nicest human beings in the music industry and they have created some of the most memorable love power ballads in history,” said Primary Wave founder and CEO Lawrence Mestel in a statement.

Added Russell and Graham, “We are thrilled to share the future with the progressive and talented people at Primary Wave.”

Formed in 1975 in Australia, Air Supply achieved global success after signing with Clive Davis's Arista Records in 1980. They have racked up eight top 10 hits on the Hot 100 and sold more than 20 million albums worldwide.