Music publisher backed by private equity fund.
Robin Godfrey-Cass has been quietly building the assets of new music publisher Crosstown Songs, now moving full speed ahead with its executives and a creative team in place. The former Warner/Chappell Music U.K. managing director is helming Crosstown, which holds rights in Desmond Child's Deston Songs and the Palan Music catalogs.
Backed by a private equity fund, which Godfrey-Cass declined to identify, Crosstown took over management of the catalogs acquired by the group for Kingstreet Media last year for roughly $40 million. Kingstreet, headed by business manager Andrew Wilkinson and advertising executive Michael Bungey, went into bankruptcy in the United Kingdom.
Godfrey-Cass, as Crosstown CEO, is working out of the publisher's Santa Monica, Calif., home office. President Steve McMellon, COO Chris Gilbert and worldwide financial controller Nicole Hall are based in the newly-opened London office.
Crosstown selected a Dutch company to handle worldwide licensing and administration -- even for the United States. Fintage Music, a division of Fintage House, has sealed an exclusive worldwide subpublishing deal with Crosstown.
“They have a transparency unlike other music publishers, where you can go online to check statements and registrations,” says Robin Godfrey-Cass. "They have also worked in the film and TV industry for 20 years."
Fintage is not a household name in the U.S. music industry. “We have a private banking approach to the business to serve our clients,” Fintage co-CEO Niels Teves says. “We don’t seek publicity.”
Based in the Netherlands, Fintage House launched its music division five year ago. About two years ago, Fintage launched its Web-based royalty reporting system for its clients. Working in a cooperative arrangement with Counterpoint Systems -- the leader in publishing administration accounting software -- the system provides its clients with the ability to look up statements updated in real time. They can view all of the deductions, so it is a direct, transparent system, Teves says.
Godfrey-Cass says that Crosstown is currently pursuing joint venture deals to work with Nashville- and New York-based publishers.
Nicole Powers, U.S. coordinator, and Chad Greer, VP Film & Television, are based in Crosstown's California office. Darren Bennett, creative director, is based in London.