Raleigh Music and ICM Crescendo Launch Joint Venture for Catalog Acquisitions
Raleigh Music Publishing and ICM Crescendo Music Royalty Fund have formed a joint venture to acquire music publishing catalogs. ICM Crescendo will provide dedicated capital, while Raleigh will source and administer the catalogs, gaining an equity stake in the process. The partnership builds on their earlier collaboration on the Kal Mann catalog.
The venture pairs Raleigh's curatorial expertise with ICM Crescendo's substantial financial backing, which already encompasses more than 6,500 songs across 50-plus catalogs tied to over 500 artists. Raleigh's leadership brings decades of publishing experience, with Peter Raleigh having overseen copyright teams at Cherry Lane and Imagem, while Steven Storch spent 21 years at Sony Music Publishing, including a stint as CFO.
Raleigh's existing portfolio leans heavily on mid-century American standards, including Elvis Presley's signature recordings, George Gershwin compositions, and selections from Broadway shows like "My Fair Lady." The companies anticipate announcing several acquisitions soon, drawing from opportunities Raleigh has developed through relationships with estates and rights holders.
This partnership could reshape how legacy song catalogs are managed and monetized, particularly for heirs of mid-century songwriters seeking professional stewardship. Smaller rights holders may gain access to institutional capital they previously lacked, potentially increasing catalog valuations across the industry. However, consolidation of publishing assets into investment funds could concentrate control among fewer financial players, possibly affecting how licensing decisions are made and how royalties are distributed to original creators' families.