Bicycle Music Acquires Wind-Up Records’ Back Catalog, Cuts Deal with Concord Music Group

(from Billboard Magazine, October 31, 2013) This week, Bicycle Music has taken ownership of Wind-Up Records’ back catalog. This entitles them to the masters of 1,600 songs, some of those from albums by Creed, Evanescence, Seether and Alter Bridge. While we’re not exactly sure what the terms of the deal are, Bicycle has struck a deal with its sister company, Concord Music Group, to handle the marketing of the Wind-Up acquisition. Regardless of this transaction, Wind-Up Records will march on as a record label with a roster totaling 15 acts. Ed Vetri, the label’s president and CEO says, “Wind-up will continue, we have signed a bunch of new bands; the staff will stay as is; and we will continue to be distributed by Sony Music Entertainment. The artist roster is strong and the future is bright for Wind-up.”

Wind-Up will be properly financed thanks to the sale of their back catalog, but by selling it they lose the financial security that comes with having the revenue guaranteed by the back catalog. After originally forming in 1997, Wind-Up was purchased by Ed Vetri and Gregg Wattenberg at Wood Creek Capital, a division of Mass Mutual that owns both Bicycle Music and Concord Music. The new ownership of the Wind-Up catalog deems Wood Creek Capital a new force in back catalog. Bicycle Music Co-President Steve Salm said, “The acquisition of Wind-Up’s seminal catalog marks a record high investment year for the Bicycle Music Co., with more to come before 2013 closes out.”

In addition to this Bicycle music will also serve as management for Concord Music Group’s publishing catalog by keeping watch over its collection of 16,000 songs. Steve Smith, the chairman of both boards of directors for Bicycle Music and Concord Music Group, said, “With our investments in both Bicycle and Concord, we have demonstrated the resources and the willpower to create an entirely new, best of breed independent music publishing and recording company.”