Home / Business and Economy / Spirit Music Catalog Hits the Market, Northleaf Seeks $500M or More
Spirit Music Catalog Hits the Market, Northleaf Seeks $500M or More
18 Nov
Summary
- Spirit Music's catalog, including Pete Townshend and T. Rex, may be sold
- Northleaf Capital, current owner, has hired a firm to seek bids over $500 million
- Catalog generated $30 million in gross profit as of 2025
In a move that could shake up the music publishing industry, Northleaf Capital is reportedly exploring the sale of the Spirit Music catalog. The catalog, which was initially assembled by Spirit Music founder Mark Fried, contains the publishing rights and masters for artists like Pete Townshend, T. Rex, and Ingrid Michaelson.
Northleaf, which acquired the catalog at some point since October 2021, has hired a financial firm to approach potential suitors and gauge interest. Sources suggest Northleaf is seeking at least $500 million for the catalog, which is currently generating around $30 million in gross profit annually. This would imply a valuation multiple of over 16 times the catalog's earnings.
The Spirit Music catalog has a rich history, with songwriters and artists like James William Guercio, Graham Nash, and Marilyn and Alan Bergman represented. In recent years, the catalog was expanded through the acquisition of the Cal IV Entertainment company, giving it a stronger country music presence.
As Northleaf weighs its options, the future of this valuable music asset remains uncertain. However, with the potential for a $500 million-plus payday, the catalog is sure to attract significant interest from buyers looking to capitalize on the continued growth of the music publishing sector.
