Oct 28, 2021


Articles & Insights

ICM Crescendo Music Royalty Fund Partners with Park Avenue Artists to Identify Investments in the Creative Community

ICM Crescendo Signs Purchase Agreement to Acquire Royalty Stream Set from Classical Superstar Joshua Bell

New York, NYICM Asset Management announced today that the company has partnered with Park Avenue Artists, a New York City-based artist management and production company, to help identify strategic investment opportunities within the music creator community for its ICM Crescendo Music Royalty Fund. ICM Crescendo acquires royalty rights agnostic of genre, language or country of origin, providing investors with long-term, diversified revenue streams demonstrating growth potential.

Unlike many of the standard catalog acquisition models popular today, the flexibility offered by ICM Crescendo means creators can consider selling rights to an entire catalog, select songs, a portion of the rights to select songs, or other revenue streams altogether. ICM Crescendo, with Park Avenue Artists as its partner, is interested in evaluating and purchasing revenue streams of artists who have demonstrated cultural investment and consistency in their royalty income. The fund leverages a proprietary data-driven machine learning model to value royalties, working with rights owners to provide transparent valuations. The fund’s approach is distinguished by its flexibility in evaluating an artist’s revenue portfolio, the diversity of streams it incorporates in its analysis, and its prioritization of an artist-driven perspective. 

“At ICM Crescendo, we have built a model that is based on complete transparency and openness with the creative community and their business teams,” said David Vankka, the fund’s lead portfolio manager and a partner with ICM Asset Management. “We are interested in music creators in virtually every genre and level in the global music industry and our approach has already resonated within the music industry. Park Avenue Artists has built a reputation for having a keen eye for finding and developing successful creators in virtually every genre and corner of the globe, and we are thrilled that they will be our partners in identifying royalty stream acquisitions for this fund.” 

The first investment to be announced under the new deal is ICM Crescendo’s purchase of a set of royalties from GRAMMY Award-winning classical violinist Joshua Bell, one of the most celebrated and successful artists in the genre and a Park Avenue Artists client. 

“ICM Crescendo recognizes the potent long-term earning power of credible artists like Joshua who is interested in deploying capital to branch out into other business verticals,” said Ross Michaels, Co-President of Park Avenue Artists. “Our work with David and his team on their Joshua Bell royalty acquisition has shown us firsthand how simple and powerful their business model is to empower music creators to unlock value in their catalogs. The flexibility that is given to an artist like Joshua to evaluate a partnership via revenue streams is a distinguishing factor from the rigid and one-size-fits-all catalog acquisitions many people are seeing in this space currently. Proud to say we at Park Avenue Artists have developed artists who have, and will, stand the test of time and these are the types of artists we will be targeting for the fund.”

In addition to Joshua Bell, other Park Avenue Artists clients include Yebba, Mia Gladstone, Jordan Donica and others. The New York City-based company is led by industry veterans Michaels and multiple GRAMMY® and Emmy Award winner David Lai. Together, they have grown Park Avenue into a multifaceted arts and entertainment company cultivating diverse businesses centered around its artists and productions.


About Park Avenue Artists

Park Avenue Artists is a company of wide-ranging individuals, tastes, and artistic pursuits. From managing GRAMMY® and Emmy award-winning artists, to creating virtual instrument software, Park Avenue Artists extends artist management, production, and intellectual property beyond their traditional scope.


About ICM Crescendo Music Royalty Fund

ICM Crescendo Music Royalty Fund works with artists, producers, and other music royalty rights owners to acquire full or partial royalty rights of popular music. The fund uses a proprietary data-driven machine learning model to value royalties and then works with rights owners to provide transparent valuations. The fund acquires royalty rights agnostic of genre, language, or country of origin on behalf of its investors. The diversified revenue stream provides investors with an attractive and long-term revenue stream with growth potential as the popularity of online streaming continues to grow.

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