They were inducted into the Rock Hall in 2004 and received three Grammy nominations. Other classic rock radio staples include “La Grange,” “Gimme All Your Lovin’,” “Sharp Dressed Man,” “Got Me Under Pressure,” “Pearl Necklace” and the Hill-sung “Tush.” The Texas trio scored two top 10s on the Hot 100, 1984’s “Legs” and 1985’s “Sleeping Bag” - with both peaking at No. The band has landed seven albums on the Billboard 200‘s top 10: Tres Hombres at No. ZZ Top’s longtime bassist Dusty Hill died earlier this year, at the age of 72. This new deal ensures ZZ Top’s remarkable legacy will endure for generations to come.” ZZ Top manager Carl Stubner of Shelter Music Group said in a statement, “We are proud to continue working with and expand our long-standing relationship with BMG. “We are excited to invest in ZZ Top’s iconic music and we look forward to collaborating with BMG and ZZ Top to further amplify the reach of their catalogue,” KKR partner Jenny Box said in a statement. In October, Chord Music Partners acquired a Kobalt music catalog on their own in a $1.1 billion blockbuster deal while in the same month BMG on its own acquired Tina Turner’s music interests including her recorded master royalties, the writer’s share of songs she wrote or co-wrote and neighboring rights.īMG served as co-publisher and administrator publishing catalog for the band, which was the subject of the 2019 documentary ZZ Top: That Little Ol’ Band from Texas. So the KKR participation in this deal is with Dundee Partners, and made through Chord Music Partners structure. “This agreement furthers our vision of providing artists and songwriters not just a financial exit, but also a vehicle committed to respecting and treasuring their artistry.”Īt the same time, KKR also has partnered with Dundee Partners, the investment office of the Hendel Family, in an investment vehicle that they have named Chord Music Partners. “This deal is a testament to the success, staying power and continuing musical relevance of ZZ Top, but also to the power of our partnership with KKR,” BMG CEO Hartwig Masuch said in a statement. This appears to be their first deal, or at least first announced one, under the new arrangement. : ZZ Top, : Greatest Hits album - 1992, : 33:21, : 24.03, : 96 kbit/sec, : mp3. Overall, Billboard estimates the deal carries about a $55 million valuation.īMG and KKR, which had partnered a little over a decade ago, from about 2009 through 2013 when the music company was being relaunched, joined forces again earlier this year. Meanwhile, Billboard estimates that the band’s publishing comes out to about $1.262 million annually and the band’s share of that is about $950,000, which at a 25 times multiple would give that income stream a valuation of about $23.65 million. At a 20 times multiple that comes out to about $31.37 million valuation. Looking at the ZZ Top catalog’s performance, Billboard estimates that the ZZ Top recorded masters catalog has averaged annually about $4.481 million in revenue over the last four years and consequently, the band’s royalties from that are about $1.568 million.