Tom Whitlock, the composer behind iconic movie themes such as "Danger Zone" from Top Gun, has sold his music catalog to Primary Wave Music. The financial details of the deal were not disclosed.
Whitlock's catalog includes over 100 compositions, with hits like "Take My Breath Away" from Top Gun and "Great Balls of Fire" from Road House. The sale grants Primary Wave the ownership of Whitlock's share of the music rights, which include publishing, recording, and synchronization rights.
According to Music Business Worldwide, this acquisition is part of Primary Wave's strategy to expand its music catalog and increase its market share in the music publishing industry.
The exact terms of the deal and the value of the catalog were not revealed, but it is known that Primary Wave has been actively acquiring music catalogs in recent years. Some of their notable acquisitions include the catalogs of Smokey Robinson, Quincy Jones, and Songwriters Hall of Fame.
Music catalog investments have gained significant attention in the music industry in recent years, with companies like Primary Wave, Hipgnosis Songs Fund, and Kobalt Capital acquiring catalogs from various artists and songwriters. These deals have been driven by the increasing demand for music streaming and the potential for steady revenue from music royalties.
For more information about music rights, types, and societies, you can refer to the following resources: