Ovation Rights acquires Sir Richard Stilgoe’s iconic musical catalogue in landmark deal and announces up to $100m backing to support artists’ legacies.
Ovation Rights today announces its acquisition of Sir Richard Stilgoe’s rights in some of the most successful stage musicals of all time, including The Phantom of the Opera and Starlight Express.
The partnership represents one of the most significant acquisitions of theatrical rights in a major move echoing a growing trend in the music industry, where artists from Bob Dylan to Justin Bieber have sold their music catalogues, and marks a pivotal step in recognising the enduring value of theatrical rights and the legacies behind them.
Founded and led by producer Jamie Hendry and former Amazon executive Philip Green, Ovation Rights acquires theatrical rights by introducing the scale and strategy ordinarily seen with music catalogue acquisitions to the creators and rightsholders of major plays and musicals. The team collaborate closely with authors, composers, lyricists and estates, working as custodians to protect legacies, honour artistic visions and passionately champion works.
Ovation Rights’ scale and ambition is underpinned by a major capital commitment from funds managed by BlackRock’s Direct Private Opportunities business.
Sir Richard Stilgoe:“Together with the trustees of my foundation, I have been working closely with Jamie to ensure the custodianship of my work on ‘The Phantom of the Opera’, ‘Starlight Express’ and ‘Cats’ rests with someone who truly understands and respects the theatre. In Jamie and the team at Ovation Rights, I have found a partner I can trust wholeheartedly to protect and champion the work I am immensely proud of.
Jamie’s deep roots in our industry, coupled with Ovation Rights’ vision for the rights of authors, composers and lyricists, make this partnership a perfect fit. Ovation Right and The Really Useful Group share my unwavering commitment to preserving and championing the work Andrew and I, together with our many collaborators, created all those years ago, and which I hope audiences will continue to enjoy for many more years to come.’
Jamie Hendry: “Richard’s extraordinary contributions have not just shaped British musical theatre, they’ve transformed the global stage. I’m honoured to be entrusted as the custodian of his remarkable legacy and to have helped him unlock the future value of his contributions in these iconic works to support his ongoing charitable work.
In partnering with BlackRock, we are poised to continue investing in artists and rightsholders with significant capital and care, ensuring their contributions endure and thrive for decades to come”