Vicente “Boss Vic” del Rosario Jr. is pushing through with an initial public offering (IPO) of his business empire’s music division next year. Viva Music includes Del Rosario’s Viva Records, Vicor Music Corp., and Viva Music Publishing which handles songwriters.
In an interview by Bilyonaryo, “There is no music company who has done an IPO in the Philippines and we want to do a small one. We hope to sell 20 to 30 percent of the company (Viva Music) or between P1 billion and P1.5 billion…We’re valuing the company at P5 billion,”.
According to Del Rosario, 90 percent of Viva Music’s revenues come from streaming services like Amazon, iTunes, Spotify (“It has become our record store, we share revenues for every song we sell”) and YouTube (“We get revenues from ads and we earn four times more from US viewers compared to the Philippines”).
Viva Communication, which was supposed to launch its IPO this year, covers del Rosario’s interests in film, concerts, streaming, talent management, and events. Viva Music’s library and steady of artists cuts across generations of music lovers from the 70s (Rico J. Puno, VST & Co., Pilita Corrales) to 80s and 90s (Sharon Cuneta) to the 2000s (Sarah Geronimo and Ex-Battalion).
Del Rosario said he decided prioritize Viva Music’s IPO in 2021 ahead of the previously announced Viva Communications IPO. “We feel na dapat unahin namin muna music and do the Viva Communication IPO two years from now,” said del Rosario
He was confident Viva Music would get the premium pricing for its shares just like Warner Warner Music Group and Big Hit Entertainment (members of the K-pop boy band BTS are shareholders) as investors rack up their holdings in the booming music industry.
Viva Music that has remained “dominant” in the music industry from creating the Manila Sound to attracting the best hip-hop and social media artists at present and he hoped that its IPO would be a hit with investors wanting to ride on the sexy industry Del Rosario added.
Source: Bilyonaryo
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