Taking them to the next phase, music royalty securitization expert David Pullman said he has signed an exclusive contract with Ron Isley of the Isley Brothers.
Pullman, who lit the fuse on the first music royalty deal with his "Bowie Bonds," said he is working on an eight-figure private placement of debt, backed by music royalties accruing to Isley and his Isley Brothers catalog. As with his previous music securitizations, Pullman said he expects this one will also be in the Single-A ratings category.
The Isley Brothers catalog includes over 50 charting R&B hits and includes classics like "Shout," "Twist & Shout," "It's Your Thing," and "Fight The Power." There are over 200 songs in the Isley catalog. The group is also well known for pioneering the ownership of record labels by black artists.
Since the 1950's, the Isley Brothers have explored the musical intersection of gospel, R&B, rock, soul, funk and disco, Pullman said. During the 1960s, they recorded for a variety of labels, including RCA, Atlantic, Scepter/Wand, United Artists, their own T-Neck and Motown's Tamla subsidiary.
In 1969, The Isleys re-established their own label, T-Neck (named for their home base of Teaneck, N.J.). With the addition of three younger family members they yielded the biggest hit of their career, "It's Your Thing," which won a Grammy for Best R&B Vocal Performance. Between 1969 and 1988 they dominated the black-music realm, placing a staggering fifty singles on the R&B chart.
Asset-backed music deals completed by Pullman include the $55 million Bowie Bonds, the $30 million deal with Holland Dozier Holland and a $30 million James Brown transaction.