Earlier this 12 months, Larry Mestel, Founder and CEO of Primary Wave Publishing, confirmed his firm had round $400 million to spend money on music rights.
Primary Wave then acquired a controlling stake in Bob Marley’s publishing catalog. Mestel paid Chris Blackwell, founding father of Island Records, $50 million. Bob Marley’s property earned $23 million alone final 12 months in gross sales of audio system, espresso, and branded hashish.