YouSaid · the spoken record

Larry Mestel

lines on the record: 49
first: 2017-10-30
most recent: 2017-10-30
sittings or episodes: 1
sources: podcast

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“Well, first of all, when I'm 100 years old, I will not be in a studio. But I would buy that 100 years old right now if I could. The advice that I would give myself would be for us and we won't to not stray from the vision of buying the best music possible, iconic legendary music hits just the greatest music of all time and it's something that we started out doing in 2006 and the most success we have had with the music we've bought is from the music that has been the very best And so if I was 100 years old looking back, I don't want to say, and I will keep reminding myself, I don't want to say, I shouldn't have bought that because it wasn't the best or it wasn't among the best. And that's really what I want to do.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“There are so many. I would tell you that my dad was an entrepreneur. He worked with my uncle and my cousin and my grandfather. And from the day I graduated college I worked as an employee and I worked as an employee up until two thousand six when I started primary wife. And if only I would have had the self confidence back when I graduated school, or maybe not graduated school, maybe a couple years after graduating school, to go out on my own and be an entrepreneur in the music business. You know, that's one thing that I probably look back on and say I only wish that I would have been an entrepreneur even earlier.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“I certainly did not grow up poor. I didn't grow up wealthy, but I grew up in a middle class family born in Brooklyn. My parents moved us from Brooklyn to New Jersey when I was six. And while I never wanted for anything, we never really had any excess. Some of my parents were very grounded, very normal, grounded, kind, nice people. And I mean, I couldn't imagine anybody being more trustworthy than my dad. And at our company, at this company, there is one thing that matters most, and that is loyalty. Loyalty and trust, loyalty over everything, anything and everything. And I think I learned that from my parents.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“I said, go where. I said, what are you talking about? There's less than a minute to go. We're going to win this down the I've been waiting decades for this. We're going to not only going to watch, I want to watch the presentation of the trophy. Sports moments for me. What teaching from your parents most stayed with you?”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Right when the clock was counting down, it was under a minute to play. The garden was deafening. I mean, deafening and the place was going crazy. And my wife looked at me and she said, come on, let's go. I said, go where? I said, what are you talking about? There's less than a minute to go. We're going to win this down the cup. She goes, yeah, let's get out of here with the crowd. I said, are you crazy? I've been waiting decades for this. We're not only going to watch, I want to watch the presentation of the trophy. So I'll never forget, you know, those were the three big sports moments for me.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“I remember very interestingly when the Rangers won the first Stanley Cup since nineteen forty in ninety four, I had season tickets that year to the Ranger Games, and all my friends would come with me. You know, we'd go, or I'd give the tickets away, they'd come with me throughout the whole season. And then my wife would never come to a regular season game. And then all of a sudden she came to the first playoff game. And then the second playoff game. And then I said to her, my friends want to come to the game. She says, yeah, but it's the playoffs. And I think she went to almost every playoff game with me. And then game seven.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“That is very easy. I actually have three. Okay, so I've had it. The first was the very first Super Bowl that the New York Giants won. That was a thrill. I got to watch it with my dad. And we And the second was the David Tyree catch. If you're a New York giant fan, it was just the catch, right? Where Eli Manning scrambled through the week. If you were a giant fan, you knew the Giants were going to beat the Patriots after that catch. They were going into the end zone. They wouldn't be denied. That was my second favorite moment. My third favorite moment.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, the smart artists of today are putting themselves in a position to own their own music, their own copyrights. I think that it depends on the resources that the artists themselves have. Most artists aren't wealthy to the extent that artists need money, they're going to partner with a music company, whether it's a recorded music company or a music publishing company, and they're going to take an advance and there's going to be an interest that those companies are going to take in the music of that artist. I think that attorneys today, business managers today and general artists today are generally smarter about the business that they're doing than they were years ago. But again, that's why it's all about how much value can you add to an artist if it's only a check and the artist doesn't need a check.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, when we started in 2006, there really wasn't as much independent competition as there is now over the last few years, a lot of independent, financially backed competitors have come into the marketplace. But we really do think that the makeup of our company and the service that we provide is very unique because while we are financially very well backed and have enormous resources, we offer this service to artists that we're unaware of anybody else offering. So while there are competitors in the so called publishing space, we think we're very unique as a publisher.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“What's great about the music business in the last decade or so is that we can see real-time sales. So there's something called Soundscans. So we know how many albums actually sell as opposed to used to be back in the earlier years of the business. People would report. Billboard. Yeah, they wouldn't always report accurately. We know reasonably speaking how many albums sell, how many streams are out there. There's a lot of radio data so we can kind of track how our songs are playing on the radio, how many spins. There's a lot more in terms of data points than there ever used to be. I think music was kind of like the shadowy back office where stepchild of the entertainment business. There's a lot more data now on music.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Nothing's forever in business. So, you know, you're always thinking about the future, always thinking about building. But our focus right now is really on building value. And I always tell our staff, our partners and our team, that as long as they continue to focus on developing creative ideas, marketing in ways that nobody's marketed before, and finding new revenue streams, the economic opportunity will always be there.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Only because I think artists value their privacy? Like everybody, I guess, but artists really devalue the privacy and without getting approval from an artist that I might tell a story, but I don't think it's appropriate.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a great question. Everybody learns differently, everybody understands differently. People are people. Artists just are more creative. And so the way we work with our artists is we try to deliver. Artists rightfully so are skeptical because by nature they're not necessarily as business minded as a businessman is, right? So, you know, with anybody, you have to gain their trust and the way you gain their trust is to deliver opportunities for them. And that's what we try to do with our artists. We try to deliver as many opportunities as we can, make sure that we're consistently in touch, and make sure that we're working as hard as we possibly can and I think our artists appreciate the fact that we take a very personal approach with them and protect them.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“And the newer the music, the less predictable, more likely the revenue is declining. So, you know, we like music that's been out there a while.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, we don't look at it like that. We don't look at it and say, oh, we're light on country music or light on hip hop or light in R&B. We want to be diverse in terms of artists. And when I say genre diverse, I'm talking about we don't only want to have rock and roll music. We don't only want to have R&B music. We don't only want to have dance music. We don't want to be genre specific. But when we look at a deal, we don't necessarily look at the genre. We look at how iconic the artist is and how iconic the songs are. So it could be a country act where the artist is iconic. In our case, we like older music. We don't like to buy music that's younger than, let's call it, you know, seven to ten years because we want historical, predictable income strategy.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“You have to. I mean, absolutely with the business that we have today. We don't like to have too much concentration in any one artist, any one genre of music. So, yeah, we look at it absolutely as a portfolio, but a portfolio where these are among the greatest songs of all time. I mean, when you talk about Smokey Robinson's My Girl in Tears of a Clown and all these great Smoky Robinson songs, and then you couple it with green onions and knock on wood and sitting on the dock of the bay and midnight hour and the song Crazy by Celo Green and Life as a Highway and you keep going. We want to develop a portfolio.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“With a decision because I think they understood that we would have been great custodians of the music, but ultimately they chose the other company at a significantly higher priced than where we were. And that was a shame because when you're in the music business, you want to work with great artists, great writers, and great songs, and this was just a phenomenal. I mean, Libren Stoller were amazing.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“or so they came in with a higher price than ours. And I still believe that Jerry and Mike wanted to sell to us even though it was a lower price, but they were doing a lot of estate planning the time for their family. And I came back with a, and we rarely, this is why we rarely participate in auctions. And we came back and sweetened our offer, which was not still up to the same level of pricing that this other music publisher was at. And then the major music publisher came back in at an even higher price. And I said, basically they had to make a decision on whether or not they wanted to be in business with us or they were going to take the higher price. And in fact, I told him, you know, listen, you guys are crazy. You take the higher price because it was significantly higher and they struggled.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's another good question. This is an easy one I wanted to buy for our company the Jerry Lieber Mike Stoller catalog Lieber and Stoller were one of, if not the greatest songwriting duo in American history. They wrote Elvis Presley stuff. They just wrote so many hit songs. I developed a relationship with both Jerry and Mike Stoller. They were just fantastic people. And I know their attorney had introduced me and we had many, many meetings. I mean, we had at least four meetings. And I really, really wanted to buy that catalog just because the music was some of the greatest ever created. And we put at exceptionally high price in. And a major music publisher came in. This is back, I think, around 2000.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“That you have to look out for? You know, are people claiming or third parties claiming ownership interests in copyrights? There are a lot of issues that you've got to be aware of. And if you're just writing a check and you're not doing due diligence, you're putting itself at the extreme risk.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“There's a very extensive due diligence process when you're acquiring catalogs. You have to look at where the income is coming from. You have to analyze the income. Consistent income is it one-offs? Is it settlements? There are a lot of things in those royalty statements that you have to take a look at. And when you buy, you have to have an understanding of what the income stream is, what the expectation is to be able to value the income stream. So we spend a lot of time doing legal due diligence, copyright due diligence. One of the main issues you've got to worry about when you're buying copyrights is you have to look at how long do the copyrights last for before they go into public domain. When do the copyrights revert if you're not buying from an artist and you're buying from a company? There are different rules. There is different rules to pre nineteenth seventy eight and post nineteen seventy eight songs. There are a litany of due diligence items.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“The artist's career, not just a source of money. You can get money anywhere, but these days, you know, it really takes a village to promote music.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Like any business, I think. This is a relationship business. So many of these deals come directly from the artists that we have relationships with or have had relationships with over the years or through attorneys or people in the business, friends in the business. My team and I have been in the business of really, really long time. Used to be I was the youngest person in the business. Now I feel like I'm certainly one of the older people in the business. So I guess the positive side to being one of the older people in the business is I have and my team have a lot of relationships and people bring us opportunities because we're helping add value.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“But we are really focused on artists that want the service that we have because we like to partner with the artist. We like to help the artist unlike other music publishers. We're interested in helping the artist with their brand. We're interested in helping the artist sell more tickets if they're on the road. We're interested in helping the artist build their digital strategy, build their social media, build their footprint. It's a lot different than what a normal music publisher would focus on. So if it's just about price and just about cash, that's not really a relationship that we're interested in. We're interested one where we're willing to pay a very fair price, even a high price, but that the artist distinguishes us from another”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there are a few things that are driving the price. One is how iconic are the songs, how under exploited is the particular catalog or the particular artist. Also, the competition itself, how much money is chasing these assets. And frankly, we do not like to buy at auction. We almost never know.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Different people in this space buy for different reasons. We buy because we believe that songs or an artist with their catalog are significantly under commercialized, underexploited, that there is significant opportunity in what we buy. So we have to make sure that as a percentage of the overall mix of mechanical performance income and synchronization income, that synchronization income isn't too high or the catalog hasn't been, as I said before, significantly exploited. So we look for things that we believe we can drive value on.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Thing that we've come up with, but I could talk about the marketing things we do all day long. They're fun, they're interesting, our artists love them, and that's really what makes us tick.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there have been a couple since, but we were certainly the harbinger with Dream On. And then something, you know, we obviously we do a lot of these things, and this is what we do daily, but something very recent that I got to kick out of our chief marketing officer came up with the idea of a smokey Robinson holiday October 8th of this year is going to be Father Daughter Day. And so our team approached American greetings. And, you know, if American greetings are hallmarks as something's a holiday, it's a holiday, right? And because we bought Smokey Robinson's music catalog and one of his big songs is My Girl, My Girl is going to be integral in this father-daughter holiday that's coming up Sunday, October 8th. So Smokies participated, Smokey couldn't be more proud that there's Father Daughter Day holiday after his music. So that's another interesting...”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“marketing opportunities that just leads to more record sales, more downloads. So that was also something that was very creative. We don't know of another music lottery at that time that was kind of the first.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“A lot of work with a lot of lotteries in America and also the rest of the world. And we approach them on aerosmith because we had bought Stephen Tyler's music a year or so before. And we approached GTEC with the idea of doing a lottery called Dream On. What could be a better lottery game than a lottery game called Dream On, right? So it was a fantastic arrangement. GTEC were great. We actually weren't thinking as big as we should have. We approached GTEC with just doing it in Massachusetts. And the company loved it so much they rolled it out in multi-states. I think there were over 10 states that this rolled out in. And what was great is that not only did we license Dream On for the lottery game, but they also ran commercials, which meant that the song was synchronized. And obviously when there were commercials.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Good question. I'll give you some historical ones and then I'll give you something very recent. One of the things that we did very early on with the Kirkobain catalog was we did a deal with converse. sneaker company yeah and most people would kind of associate that with a merchandise deal so we did a deal one of our our marketing guys came up with this idea to go to converse because you know it was very true to who Kurt Cobain was he wore converse sneakers and we did something very novel we put Kurt's artwork and lyrics on the side of these niche converse sneakers and they became very successful niche converse sneaker and it was great because Kurt's Courtney and Francis received a significant payment and we turned it into a music deal normally you wouldn't think of a sneaker as a music deal but when you put lyrics on sneakers it's a music deal we also did another really amazing marketing idea to one of our team members came up with approached a company called GTEC who”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“To us. You know, Steve Cropper wrote Midnight Hour sitting on the dock of the bay. That's what attracted Tom Cochrane, who wrote Life as a Highway. Those types of services that I think are very unique to primary wave is what attracts talent.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's just easier to market songs that you've heard of. That's why we focus on that as our business. And frankly, we think we have a fantastic staff of marketing people and people that drive opportunities. But it's very unusual in the music publishing space to have a large digital strategy team, which we do. It's very unusual to have a large brand team. It's very unusual to run a publishing company like a record company. And that's what we do. So we've got a chief marketing officer. I don't know of another music publisher that has a chief marketing officer. And he has product managers. And again, almost the entirety of our staff are people that are creative, that are coming up with ideas and ways to market. And I think that's what attracts talent to us. I think that's what attracted Smokey Robinson to us lately. I think that's what attracted Steve Croft.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“We really focused on that aspect of the business. So that really put us on the map acquiring Kirkabane's music. I mean, Kurt was obviously legendary and iconic. And our whole thing about our business is we're in the icon and legend business. We're in the icon legend and hit business. We're not on the real estate business. We're not interested in songs that aren't great songs. We're not interested in signing hundreds of artists or having hundreds of writers. The ones we sign we really want to focus on. And unlike the Warner Chapels of the World or the Universals of the World, the Sonys of the World, the BMGs of the world that have millions and millions of copyrights, we only have thousands of copyrights, but all of our copyrights are exceptional. And frankly”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“The Kirkobain assets were being administered by a company called EMI, but they were providing typical administration services for Courtney. And I think Courtney, in addition to knowing that she had a very valuable asset, she wanted a partner that could think a bit out of the box and market very effectively and try to grow the revenue stream.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, the first really big deal that we did was for the Kirko Band Music Publishing Catalog. We partnered with Courtney Love on that. We bought a 50% interest in the music publishing assets, kind of went to town on what we believe was a very tasteful marketing experience.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Side of the business, we put a brand team in place and a digital team in place around 2010 to expand the services that we were offering. And then we got into the television business and film business as part of what we do in 2014, fifteen.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“We could no longer draw down on our senior credit facility at this major bank, and so, you know, being entrepreneurial back in 2009, we had this great company. We had these amazing assets. They were cash flowing, but we couldn't buy 20, 30, 40 million dollar assets anymore, right? So as a way to continue to grow our business, we spread out from music publishing and we started a management business in Celo Green, one of the first management clients that we brought on and we managed just fantastic, amazing talent and great people. I mean, we manage CELO Green, Melissa Etheridge, Fantasia, Eric Benet, Law of Cypress Hill, lots of really, really fantastic talent, just really incredible talent. And we got into the film and TV.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a great question. So very interesting. We had raised a lot of money in two thousand six and two thousand seven from a hedge fund and a big bank. And it was a lot of money. We got very lucky. And we were able to buy a lot of these great assets early on. And then the financial crisis hit 2008, 2009. And the hedge fund that had been supplying us all of our equity capital ended up literally going out of business overnight. I mean, it was really one clean swoop. They were amazing partners and they were just absolutely fantastic, but they went from a five billion dollar hedge fund to not a lot overnight. And so we lost our partner, our financing partner, in terms of equity. And then that put us in a situation.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, yeah. It's about literally Jason Alexander as the head of this family, and they go on the road and perform, you know, perform music, and it's hysterical. Absolutely hysterical. We also manage a lot of talent as a management company. And so it's a very diverse management company.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“So we have two shows that are coming out very soon october fifteenth actually on AT&T Direct TV. One is called Hit the Road with Jason Alexander. Another show, they're actually debuting the same day back to back on audience network. The other one's called Loudermilk. And our TV guys have done a great job in producing those shows, Hit the Rotters with Jason Alexander, you know, formerly of Seinfeld fame. So it's a cross between”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Which anybody can do well and which a lot of companies do do very well, which is collecting and administering. We want to focus on marketing and promotion. The other thing that makes us very unique is that we have a sister company, which is a company called Primary Wave Entertainment that we have a lot of synergy between with our music publishing side of our business and the entertainment side of our business. We are also very heavily involved in the TV development business, obviously both for purposes of making fantastic intellectual property, great television shows, but also as a way to enhance the value of our music because we can use our music in the television shows. What are some of the shows?”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“As opposed to investing in accounting people and royalty people and copyright registration people, most of the partners that I brought on very early were marketing people, promotion people, advertising people, video game people, people that could drive the top line, people that could create new revenue streams. And we focused in the early years a lot less and still today, a lot less on the collections, administration, royalty function of copyrights, and much more on the creative aspect of opening new revenue sources and driving income. And that was our premise in 2006 and still today that we want to be a company that delivers opportunity for artists, not focus on what we think is a commodity.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Having been involved in running major record labels, major labels tend to be much more interested in frontline product in new music, in young artists that they can develop and break and the margin is and the upside is enormous if you break a new act and major labels typically don't spend a lot of time or allocate a lot of resources to their icons and legends. And so when I started Primary Wave in 2006, the vision was to provide a service on the music publishing side which really didn't exist and to spend a lot more human focus, our human resources in focusing on iconic and legendary artists that weren't really getting all that much frontline attention at these major record labels. So when we started in 2000,”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, as you know, there was an enormous boom in the recorded music business when digital technology came in with CDs, and that lasted for quite some time. And then Nabsta really changed the business. Initially, in a very negative way, and beginning probably around.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“About four years and went to Virgin Records for a couple years, and I decided in two thousand five the recorded music business, not the music business, but the recorded music business was moving in the wrong direction. And I had always had a little music publishing company and marketing company contractually on the side. And I never really trusted the recorded music business, to be frank. And so in 2006, I started Primary Wave predominantly as a music publishing company.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“They were absolutely incredible. I was just completely enthralled by how incredible they were, how amazing entrepreneurs, how they'd built this creative company from, or how Chris had built this creative company from scratch. He was a legend and still is, a legend in the business, and I'd gotten to know the company, and one thing led to another very short period of time, almost a blink of an eye. I was working in Island Records. And that's how I got started in the business, but I was always interested in music. You know, it was music and sports. I would have loved to have been a sportscaster, but I think the road to success was a little bit longer than in music. I ran island records with crisp, and I did that for about 11 years. And then when Clive Davis got reassigned at Arista Records, an LA Reed came into Arista Records in two thousand I came in to run Arista with LA, was there for”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I started in the music business in 1989. I had actually, the way I got into the business was Was working for a company that was advising a company called Polygram Records on their acquisition of island records and a few other record labels back in nineteen eighty eight and eighty nine, and I met Chris Blackwell back then in a gentleman that worked for him who has since passed away, a gentleman named Mel Klein.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source
“My guest on today's show is Larry Mestell, the founder and co CEO of Primary Wave, one of the largest independent full-service entertainment companies. Primary wave publishing, the music division Larry Overseas, acquires and develops the rights to iconic song titles and works with iconic artists. He has bought assets that include big-name hits from Kurt Cobain, Smokey Robinson, Stephen Tyler, John Lennon, Def Leopard, Holland Oates, and Celo Green. Prior to founding Primary Wave in 2006, Larry spent twenty years in the music industry, serving as COO and General Manager of Virgin Records, Executive Vice President and General Manager at Arista Records, and COO of Island Entertainment Group. Our conversation discusses the business of investing in music publishing rights, including primary waves target market, due diligence practices.”
2017-10-30 · Capital Allocators · Larry Mestel – Making Music Royalties Sing (Capital Allocators, EP.30) · IDENTIFIED FROM THE TRANSCRIPT · source