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Calvin Harris rakes in stonking £76m by selling music back catalogue to New York firm

Daily Record logoDaily Record 24/10/2020 Stuart Macdonald

Calvin Harris has sold his musical back catalogue for a stonking £76million.

The deal, which saw the Dumfries-born DJ offload the rights to his collection of more than 150 songs, works out at just over £500,000 a tune.

They have been bought by Vine Alternative Investments, a New York financial asset firm which specialises in the media and entertainment industry.

Vine acquired the 36-year-old’s entire publishing catalogue, including chart-topping collaborations with music superstars like Rihanna, Pharrell Williams and Ariana Grande.

Harris, real name Adam Wiles, has gone from shelf stacker to one of the highest-earning DJs in the world, raking in £29.7million last year, according to Forbes.

The Grammy winner has had 10 UK No1 hits, including How Deep is Your Love, We Found Love and One Kiss.

Vine announced the major publishing deal yesterday, which is reported to have cost it £76.4million.

Mark Gillespie, Harris’s manager, said: “Vine’s process was extremely smooth. We valued their quick response time. We are very comfortable that they will be great stewards of the catalogue.”

Rob Amir, Vine’s partner in charge of music sector investments, said: “We approach the music space the same way we have always approached the film and TV space, with an eye for, and an appreciation of, the world’s most iconic content.

“The addition of Calvin Harris hits across multiple genres to our catalogues is a continuation of our pursuit of building a multi-genre media ecosystem.”

Earlier this month, Harris sold his mansion in the Hollywood Hills for almost £4million.

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