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ICM CRESCENDO FUND RINGS A BELL

The first deal under the auspices of the ICM Crescendo Music Royalty Fund involves a purchase from classical violinist Joshua Bell.

Acquiring royalty rights to provide investors with long-term, diversified revenue streams demonstrating growth potential, the fund is a partnership between ICM Asset Management and ICM's artist-management arm and production company Park Avenue Artists; Bell is on the Park Avenue roster. 

ICM Crescendo is focused on purchasing the revenue streams of artists who've demonstrated consistency in their royalty income. Creators may sell rights to an entire catalog, select songs, a portion of the rights to select songs or other revenue streams altogether.

Said David Vankka, the fund’s lead portfolio manager and a partner with ICM Asset Management, “We are interested in music creators in virtually every genre and level in the global music industry. Park Avenue Artists has built a reputation for a keen eye for finding and developing successful creators in virtually every genre and corner of the globe.”

Ross Michaels, Co-President of Park Avenue Artists, said, “Our work with David Vankka and his team on their Joshua Bell royalty acquisition has shown us firsthand how simple and powerful their business model is in empowering music creators to unlock value in their catalogs. The flexibility that is afforded an artist like Joshua to evaluate a partnership via revenue streams is distinguished from the rigid and one-size-fits-all catalog acquisitions many are currently seeing in this space.”

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