HarbourView buys rights tied to Taylor Swift hits by Max Martin and Shellback
The private equity firm bought publishing interests in “Style” and “Ready for It,” without changing Taylor Swift’s own ownership rights.
By Maya Lindqvist · Senior Technology Correspondent
3 min read
HarbourView Equity Partners has bought publishing rights connected to two Taylor Swift songs, giving the private equity firm a share of income from works co-written by Max Martin and Shellback. Fortune reported that the deal covers the publisher’s share of “Style” and “Ready for It,” adding investor ownership to part of the songs’ copyright income while leaving Swift’s existing ownership untouched.
Variety first reported Wednesday that the broader catalog transaction was valued in the low nine figures, citing people familiar with the matter. Fortune reported that HarbourView declined to confirm that figure or provide details, and did not respond to its request for comment.
The sale involves the songwriting and publishing side of the business, according to Fortune, rather than the master recordings that have been central to Swift’s long-running ownership fight. Swift has bought back her first six albums, Fortune reported, but this transaction concerns copyright shares held by Martin and Shellback as co-writers.
Martin and Shellback are among the best-known songwriter-producers behind major pop records from the 2000s onward, Fortune reported. The HarbourView purchase also includes songs associated with Ariana Grande and the Weeknd, among others, according to Fortune.
Why publishing rights draw investors
Publishing rights generate income when songs are performed publicly, streamed or licensed for use in films, television, advertising and other commercial settings, Fortune reported. For Swift’s songs, that can include both the original versions and rerecorded versions because the publishing right covers the underlying composition and lyrics.
Barry Massarsky, who leads music and entertainment valuation services at Citrin Cooperman, told Fortune that publishing catalogs appeal to investors because the music business is performing well and because publishing income can be measured and monetized. Massarsky was not involved in the HarbourView transaction, according to Fortune.
Massarsky told Fortune that older, proven catalogs can command higher multiples than newer ones because buyers have more evidence about how the songs perform over time. He said investors look for a “steady state,” where income has settled into a more reliable pattern after a song’s chart peak.
That logic helps explain the interest in Martin and Shellback’s catalog, Fortune reported, because the pair have credits on hits spanning decades. For an investor, songs with a long earnings history can be easier to value than newer tracks whose future demand is less clear.
What the deal changes
The acquisition gives HarbourView a stake in the portion of copyright income tied to Martin and Shellback’s co-writing shares, according to Fortune. It does not reduce Swift’s own ownership position, Fortune reported.
Tatiana Cirisano, vice president of music strategy at MIDiA, told Fortune that owning a share from key co-writers can also make licensing easier in some cases. She said songs with many writers can require permission from each of them before use in films, TV shows or commercials.
Fortune reported that Swift generally does not use large teams of writers on a song. In the case of “Style” and “Ready for It,” HarbourView’s stake comes through the co-writer shares sold by Martin and Shellback, rather than through any transfer by Swift.
This story draws on original reporting from Fortune.