Big Loud, the Nashville record label that’s home to country superstar Morgan Wallen, sold a stake in the singer’s catalog to Chord Music Partners, sources familiar with the matter tell The Hollywood Reporter. The sources, who requested anonymity to speak freely on the matter, say Chord made the purchase for $200 million.
A Big Loud rep confirmed to THR that the company sold a minority stake in the catalog, though the spokesperson didn’t include financial details or deal terms of the transaction.
“Big Loud has sold a minority stake in Morgan Wallen’s master recording catalog to Chord Music Partners, as part of a strategic investment to expand the label’s global footprint and fuel long-term artist development,” the rep said. “The deal was executed with the support of the internal Big Loud team, alongside partners at Chord Music, Republic Records & UMG, PLUS Capital, Eisner, Loeb & Loeb, DLA Piper, Dickinson Wright and Armanino.”
Chord was founded in 2021 by investment companies KKR and Dundee Partners, and Chord’s portfolio includes music from The Weeknd, Ryan Tedder and John Legend among others. Universal Music Group, the world’s largest music company, bought a 25.8 percent stake in Chord last year, with KKR exiting the company.
Since its founding in 2013, Big Loud has become one of Nashville’s preeminent record labels, with a roster that includes Wallen — the biggest country act in the business — as well as Hardy, Ernest and Miranda Lambert among others. Big Loud’s catalog includes Wallen’s six-times platinum Dangerous: The Double Album and seven-times platinum One Thing at a Time and his hit singles like “Last Night” and “Whisky Glasses.” Other music in the catalog includes Hardy’s “Truck Bed” and Ernest’s “Flower Shops,” which featured Wallen.
Wallen alone offers attractive multiples that will earn out steadily for the next five to 10 years, notes an insider familiar with the strategic investment. (Along with the frontline label, Big Loud also has a music publishing arm that represents Ernest, Ashley Cooke and Big Loud co-founder Craig Wiseman.)
Reps for Chord and UMG didn’t respond to request for comment.
Big Loud has a strong relationship with UMG’s Republic Records, with Big Loud signing a multi-year distribution agreement with Republic’s Mercury Records last year. Aligning with Chord, in which UMG already holds an equity stake, further fortifies Big Loud’s position in the Universal system, with the added benefit of contributing to the industry leader’s market share. Big Loud principles, meanwhile can invest in new talent while operating as if nothing has changed, an insider contextualizes.
Wallen kicks off his I’m the Problem stadium tour on June 20 in Houston.
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