What change in the music business do you see coming that inspired you to start Hallwood?
And the reason I want so many producers is that that gives me the ability to do what I call by-side coverage. We cover everybody. My customers are film and TV music supervisors, commercial jingle buyers, commercial ad agencies, advertising agencies, microcar content creators. Sure, music A&Rs, music managers, artists, publishers, et cetera, et cetera.
Once we looked at it I said I could take the catalog to market to see what’s out there. We talked to Universal, we talked to Sony, we talked to a few others, and there was interest but everyone was offering lowball numbers. A buddy of mine at Morgan Stanley said they were looking for music assets. And let me tell you something, to everybody else that stayed on the sidelines and watched Merck build a billion-dollar business underneath their nose — what a bunch of misses by everybody else.
What won’t happen is I’m going to go sign 200 producers myself. What I’m creating is an infrastructure, an agency that can cover everybody, and that the more we have, the more power we have and the more opportunity we can bring to everybody.
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