According to insider reports to The Hollywood Reporter, the record label Big Loud, known for housing country sensation Morgan Wallen, has sold a portion of Wallen’s music collection to Chord Music Partners. Sources, who preferred to remain anonymous in their discussions about the matter, claim that Chord invested $200 million for this acquisition.
A representative from Big Loud Music has verified to The Hollywood Reporter that they’ve offloaded a portion of their music collection to another party. However, the representative declined to disclose the financial specifics or the particulars of the deal regarding this transaction.
Representatives announced that Big Loud has teamed up with Chord Music Partners by selling a portion of Morgan Wallen’s recording catalog. This move is aimed at increasing the label’s worldwide presence and fostering long-term growth for its artists. The agreement was finalized with assistance from Big Loud’s internal team, along with partners from Chord Music, Republic Records, Universal Music Group, PLUS Capital, Eisner, Loeb & Loeb, DLA Piper, Dickinson Wright, and Armanino.
In 2021, Chord was established by investment firms KKR and Dundee Partners. This company’s collection encompasses tracks from artists such as The Weeknd, Ryan Tedder, and John Legend, among others. Last year, Universal Music Group, the globally recognized music conglomerate, acquired a 25.8% share in Chord. Notably, KKR has since ceased its association with the company.
Established in 2013, Big Loud has risen to prominence as one of Nashville’s leading record labels, boasting a talented roster that includes chart-topping artists like Wallen, Hardy, Ernest, and Miranda Lambert, among others. Notable releases from the label include Wallen’s six-times platinum album “Dangerous: The Double Album” and seven-times platinum album “One Thing at a Time,” along with hit singles such as “Last Night” and “Whisky Glasses.” Additional music in their catalog includes Hardy’s “Truck Bed” and Ernest’s “Flower Shops,” which features Wallen.
On their own, Wallen’s appealing multiples promise steady returns over the next five to ten years, according to an informed source who understands strategic investments. (Notably, Wallen, under the management of Big Loud, also operates a music publishing division that represents artists like Ernest, Ashley Cooke, and Big Loud co-founder Craig Wiseman.)
Reps for Chord and UMG didn’t respond to request for comment.
Big Loud Records has a robust partnership with UMG’s Republic Records, and last year they signed a multi-year distribution deal with Republic’s Mercury Records. This association strengthens even more with their recent alliance with Chord, a venture in which Universal Music Group (UMG) already holds equity. This move solidifies Big Loud’s place within the Universal system, and also increases UMG’s market share. Meanwhile, the executives at Big Loud can continue to discover new talent as if business-as-usual, but with an added advantage. An industry insider explains that this partnership provides them with a unique perspective.
Wallen kicks off his I’m the Problem stadium tour on June 20 in Houston.
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2025-05-01 02:24