NEAR TRUTHS: WITCHING HOUR

IT'S WITCHCRAFT: With Wicked poised to dominate the holidays with both gigundo box-office receipts—very possibly opening north of $100m—and big action on its Verve/Republic soundtrack, industryites are giving props to UMPG’s Evan Lamberg, who inked the 2023 pub deal with composer Stephen Schwartz (who, in addition to Wicked’s music and lyrics, has also written a brace of other Broadway and movie hits) that’s about to pay out big time. Look for two Wicked singles, “Popular” and “Defying Gravity,” featuring stars Ariana Grande and Cynthia Erivo, to get a massive look—Gary Spangler’s Republic promo team is ready to rumble.

Schwartz, we’re told, was at the end of his term at another pubco and was just exploring possibilities when Lamberg, a lifelong fan, sat down with him and eventually won him over. Word from screenings in multiple territories is that audiences are responding as though they’re at a stadium concert, and that the film’s upbeat, humane message will be a much-needed balm in a dark time.

MERCK-CURIAL MUSINGS: Word among insiders is that Merck Mercuriadis will be making a return to the asset-acquisition game in 2025, backed by a new group of investors. Expect both catalog and artist rights (including both live and commercial use of those artists’ brands) to be among his targets.

As the founder/head of Hipgnosis, the industry veteran was a hugely disruptive force in the music marketplace, supercharging the value of song catalogs and helping spark a hotly competitive cottage industry in finance-backed acquisitions. Merck exited as CEO early in 2024. His financial partner at the company, Blackstone, purchased the Hipgnosis Songs Fund (HSF)—which boasts 45k+ songs, including works by Fleetwood Mac, Journey, Red Hot Chili Peppers, Shakira, Justin Bieber and many more—for $1.6b from the fund’s shareholders in July, taking the company private after a stretch on the London Stock Exchange. Earlier this month, Hipgnosis and Blackstone raised about $1.5b in debt financing.

While Merck certainly isn’t everyone’s cup of tea and ruffled more than a few feathers at the very top of the music-biz pyramid, he undeniably blazed a trail in catalog acquisition and valuation, made himself a mountain of money and bought some stellar catalogs. What will he do for his next act? Stay tuned.