THE failure of Jamaican artistes to sign exclusive recording contracts with record companies is an hindrance to their catalogues having any substantial value, says American music industry veteran Murray Elias.

He told the Jamaica Observer that because many reggae/dancehall acts traditionally licence their music to multiple companies, their master recording catalogues “are spread all over the place”. He added that, “That’s always going to be an obstacle in terms of trying to put together a master recordings and publishing package that these mainstream artistes are better situated to do.”

Those mainstream artistes include Bob Dylan, Sting, Bruce Springsteen, Neil Young, and Stevie Nicks who recently sold their music publishing and master recordings for hefty sums. Industry insiders estimate those deals to be worth from US$300 million to $500 million.

Co-founder and co-principal of the Mill Rock Music Publishing Group, Elias notes that enduring music is not the only component of a formidable catalogue.

“From my perspective, a proper music catalogue on the publishing side is all the copyrights are controlled by one entity, by the writer and their publisher. Many writers have co-writers on songs but at least in terms of the writer of interest, the writer we’re interested in selling, that writer’s catalogue is contained by one publishing entity,” he explained.

Elias notes that few reggae/dancehall catalogues are attractive to companies such as those that purchased the titles of Dylan, Sting or Springsteen. In 2018, Private Wave Publishing bought 80 per cent of Island Records founder Chris Blackwell’s share in Bob Marley’s catalogue for US$50 million.

No other Jamaican artiste’s legacy comes close to that, says Elias. He believes the only act in the past 30 years whose catalogue can fetch considerable money is Sean Paul.

“The most formidable dancehall artiste of the past 30 years is without a doubt Sean Paul, followed possibly by Shaggy, then people like Beenie Man and Shabba (Ranks). But again, with the exception of Sean Paul, I don’t know if anybody’s catalogue is going to go into US$10 million,” he stated. “Sean’s is the only catalogue that has a shot at that on the publishing side.”

Sting’s deal with Universal Music Group was sealed in February for a sum estimated to be over US$500 million. In a statement issued by Universal Music Group, the British superstar said the sale will allow him “to introduce my songs to new audiences, musicians, and generations.”

Elias and fellow industry veteran Chris Schlarb started Mill Rock Music Publishing Group four years ago. The company counts music producers Justus Arison and Jon FX among its clients.

In February, it was announced that Mill Rock Music Publishing Group had secured a deal with the family of dub legend Augustus Pablo to market his extensive Rockers catalogue.