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Business News Deals Labels & Publishers
Universal Music buys majority stake in Thai music catalogue
By Chris Cooke | Published on Tuesday 4 July 2023
Universal Music has bought a 70% stake in a music catalogue owned by the Thailand-based RS Group via a deal which, the latter company says, will provide opportunities to boost the value of that catalogue. The Thai company will also utilise “UMG’s expertise and technologies to bring Thai music to the worldwide audience”.
An official announcement confirms that the deal is worth around $45 million, and will see Universal and the RS Group’s music business together manage rights in relation to more than 10,000 tracks.
More than 960 artists appear in the catalogue including Dan-Beam, James Ruangsak Loychusak, Parn Thanaporn Wagprayoon, Stone Metal Fire, Ble Patumrach, Lydia Sarunrat Deane, Thanapol Intharit and Four-Mod Kamikaze.
Says Surachai Chetchotisak, CEO of the RS Group: “We are glad to partner with UMG as a means to expand opportunities for Thai music in the international market. It will also play a significant role in driving Thai soft power and mark the first stepping stone for future projects and businesses. This joint venture will create opportunities within music industry and strengthen RS Music even further”.
And Calvin Wong, CEO of Universal Music Southeast Asia, adds: “I am extremely excited about the expanded role that this partnership will enable UMG to play in such a fast-growing and important music market. Thailand has huge untapped potential, with consumers who desire ever more quality music. Today’s announcement will provide UMG with the scale to make a meaningful impact within the Thai music ecosystem and to benefit from its continued growth”.
