Primary Wave Music, a major player in the music rights acquisition industry, has announced its acquisition of a catalog of music from legendary songwriter and musician P.F. Sloan. Described as a “multi-million-dollar deal,” the agreement includes the acquisition of Sloan’s publishing and writer’s share in his works, as well as his master royalty income. Sloan was a prolific songwriter in the 1960s Los Angeles music scene, known for collaborating with his songwriting partner Steve Barri. Their songs were performed by popular musicians such as Jan & Dean, Herman’s Hermits, and the Mamas and the Papas. Sloan’s iconic compositions include “Eve of Destruction” and “Secret Agent Man.”
As part of the agreement, Sloan’s estate will gain access to Primary Wave’s marketing team and publishing infrastructure, providing opportunities for sync placements, digital strategy, licensing, and film and TV production. Primary Wave has established itself as one of the largest music rights owners globally, representing iconic songwriters, artists, and labels such as Bob Marley, Prince, and The Doors. The company’s recent acquisitions include Whitney Houston hits, the music publishing catalog of Europe frontman Joey Tempest, and a stake in Kool & The Gang’s founding member George Brown’s catalog. Primary Wave’s CEO, Larry Mestel, has emphasized their commitment to maximizing the value and enhancing the legacy of their artists.
In late 2021, Mestel revealed that Primary Wave had around $1 billion available for music rights deals, with most of the funds already allocated. The company made headlines in H2 2022 with a $2-billion deal with Brookfield Asset Management, granting Brookfield a significant minority stake in the music rights firm. Mestel’s vision of being an honest and value-adding partner to legendary artists has resonated in the industry, attracting partnerships and opportunities to enhance artists’ legacies. Primary Wave aims to differentiate itself by actively maximizing the value of the music in its catalog, rather than letting it sit untouched like some financial competitors.