Particulars: Citrin Cooperman, a Prime 25 Agency primarily based in New York, has merged in Massarsky Consulting, a copyright economics consultancy that works within the music business serving to music publishers and recording labels with valuations.
As a part of the deal, Massarsky Consulting companions Barry Massarsky and Nari Matsuura will be a part of Citrin Cooperman as companions and co-leaders of the agency’s new Music Economics and Valuation Providers Follow, together with different group members, together with Elon Altman and Jake DeVries. The Massarsky Group can even be a part of Citrin Cooperman’s Leisure, Music, and Sports activities Follow, led by Citrin accomplice Matthew Segreto.
The deal comes as various distinguished songwriters and performers have offered off their music catalogs for a whole bunch of hundreds of thousands of {dollars} lately to main leisure firms, together with Bruce Springsteen’s sale to Sony, Bob Dylan’s cope with Common, Paul Simon’s with Sony, Tina Turner with BMG, the property of David Bowie with Warner Chappell Music, and Stevie Nicks with Main Wave.
“Barry’s repute within the leisure business precedes him,” mentioned Citrin Cooperman government chairman Joel Cooperman in a press release Wednesday. “His title is synonymous with the economics of music and his group will likely be a incredible addition to our agency.”
“Nari has single-handedly revolutionized the customized and apply of music valuation research and helps a lot of the institutional funds transacting on this market,” mentioned Citrin Cooperman CEO Alan Badey in a press release. “In 2021 alone, she has led over 300 music asset valuations valued at over $6.5 billion.”
Monetary phrases of the deal weren’t disclosed. Citrin Cooperman ranked No. 23 on Accounting Right now’s 2021 record of the Prime 100 Corporations. The agency earned annual income of $350 million. Citrin has 1,240 companions and employees, whereas Massarsky has two companions and two employees members who will likely be becoming a member of the agency.
Massarsky Consulting was based in 1992 and offers strategic counsel to homeowners of music copyrights, in addition to valuation, litigation economics and efficiency earnings overview.
“We’re thrilled to have the Massarsky Group be a part of the Citrin Cooperman group,” mentioned Massarsky Consulting founding accomplice Barry Massarsky in a press release. “It was essential for us to discover a agency with a deep understanding of the identical music business copyright pursuits for which we’re so well-aligned for the final 29 years. We wished a accomplice that really creates the brand new useful resource capability for our essential work forward.”
“Becoming a member of Citrin Cooperman was the pure subsequent step for our agency given its progress, and collectively we are able to totally serve the regularly rising demand for our companies within the music business,” accomplice Nari Matsuura mentioned in a press release. “We’re so excited to start 2022 as a part of their group.”
Final November, Citrin added OLC Administration Inc., a California-based enterprise administration agency within the leisure business. In January, Citrin expanded in Los Angeles by merging in accounting agency Goren, Marcus, Masino & Marsh. In 2020, Citrin Cooperman added LGSH in Los Angeles and Properties, Lowry, Horn & Johnson in Fairfax, Virginia.