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Round Hill Acquires Rock Producer Steve Lillywhite’s Royalty Income Stream

todayJanuary 4, 2023

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Round Hill Music Royalty Partners has acquired the royalty income stream of Steve Lillywhite, one of the premier rock producers of the last 45 years, in a deal that includes his share of royalties from such albums as U2’s October and War; Dave Matthews Band’s Under the Table and Dreaming and Crash; and The Rolling StonesDirty Work. Terms of the deal were not disclosed.

Additional recordings on which Lillywhite served as a producer or worked are covered by the deal, including music by Phish, Peter Gabriel, Morrissey, Talking Heads, Counting Crows, Siouxsie and the Banshees and The Psychedelic Furs.

“As someone who grew up idolizing the bands and albums Steve Lillywhite produced, it is an honor to partner with him on this exciting transaction,” Round Hill Music CEO Josh Gruss said in a statement.  “Steve’s catalog includes royalties to some of the most sought-after songs and albums of all time.  We are thrilled to have reached this milestone transaction.”

For his part, Lillywhite added in a statement that the deal brings his catalog under “a kindred spirit [Gruss], who is a pioneer in the music royalty business and the ideal partner for me and my family as I look to my next steps.”

According to the announcement on the transaction, Lillywhite has produced or contributed to more than 500 records in his more than four-decade career. During that time, he won the Grammy for Producer of The Year in 2006 for U2’s How to Dismantle an Atomic Bomb, which also won the Grammy for Album of the Year and Best Rock Album. He also won Grammys as one of the engineers/mixers listed on U2’s “Beautiful Day” and “Walk On,” which won Record of the Year in 2001 and 2002, respectively.

Other acts Lillywhite has produced or worked with during his career — and whose music is part of the acquisition — include XTC, The Pogues, Big Country, Joan Armatrading, Sinead O’Connor, Marshall Crenshaw, Crowded House, The Killers and Chris Cornell.

The Lillywhite deal adds to Round Hill’s overall investment portfolio, which has now taken in more than $200 million in investments in more than 40 acquisitions, according to the company.

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todayJanuary 4, 2023

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