Sony Group and Singapore’s sovereign wealth fund GIC are forming a joint venture to acquire music copyrights, with plans to invest between US$2 billion and US$3 billion, according to people familiar with the matter.
Under the partnership, Sony’s music division will manage the acquired catalogues, overseeing global distribution to streaming platforms and licensing older songs for use in films, television, advertisements, and other commercial projects. GIC will provide the bulk of the capital alongside its investment expertise, the people said, asking not to be identified as the discussions are private.
The joint venture is expected to significantly expand Sony’s already vast portfolio of music rights while allowing the Japanese entertainment conglomerate to pursue large acquisitions without committing all of the capital on its own balance sheet. The structure reflects a broader trend in the music industry, where major labels are increasingly teaming up with financial investors to compete in the high-stakes market for valuable song catalogues.
With the deal, all three of the world’s largest music companies will have established partnerships with financiers. Universal Music Group announced a similar arrangement with Dundee Partners in early 2024, while Warner Music Group set up a joint venture with Bain Capital in 2025 to invest in music rights.
Sony has been particularly active in acquiring high-profile catalogues, often using third-party financing. In recent years, it has bought the music rights of Bruce Springsteen, as well as iconic acts including Queen and Pink Floyd, reinforcing its dominance in both recorded music and publishing.
The value of music copyrights has surged over the past decade, driven largely by the rapid growth of paid streaming services, which have created more predictable and recurring revenue streams. Investors have also been attracted to music assets for their perceived stability, especially during periods of economic uncertainty, as royalties can generate steady cash flows over long periods.
Sony and GIC plan to target high-quality, marquee music assets across a wide range of genres. GIC has been investing in the music industry for nearly a decade, while Sony Bank, a unit of the Japanese group, is also participating in the investment partnership.
Sony owns the world’s second-largest record label group and is the largest music publisher globally. Its labels release music from stars such as Harry Styles, Adele, and Beyoncé, and it distributes music for thousands of artists worldwide through its independent distribution arm, the Orchard.
