MBW understands that Olivier Chastan’s music rights acquisition vehicle, Iconoclast, is in discussions over a potential sale, with a price tag of approximately USD $500 million.
According to sources with knowledge of the situation, Iconoclast’s catalog is currently generating approximately USD $25 million to USD $35 million in annual earnings, derived from a blend of active and passive rights.
Based on those figures, a $500 million sale price would represent a multiple of somewhere between approximately 14x and 20x annual earnings.
MBW understands that Brian Richards, the founder and managing partner of financial advisory firm Artisan, is playing a central role in the sale process. Richards recently played an instrumental part in The Weeknd’s unprecedented $1 billion catalog partnership deal with Lyric Capital Group.
Multiple sources tell MBW that Iconoclast is in talks with approximately 10 different parties, a mix of major music companies and large independent music rights investment firms.
Among the star names in Iconoclast’s catalog portfolio are Canadian rock band Nickelback and the late Robbie Robertson of The Band, according to those same sources.
Other artists whose rights Iconoclast has acquired in recent years include legendary singer Tony Bennett, Grammy-winning rapper Eve, disco pioneer Giorgio Moroder, TV icon David Cassidy, and the Murder Inc. master recordings of hip-hop veteran Irv Gotti.
Iconoclast has also acquired the publishing catalogs of Beyoncé and M.I.A. collaborator Switch, Lady Gaga co-writer and producer Nick Monson, and Mad Decent Publishing, the catalog co-founded by DJ and producer Diplo.
Los Angeles-based Iconoclast was founded by Chastan in late 2021, with its debut acquisition being Robertson’s music publishing, recorded music interests, and name, image and likeness (NIL) rights.
Chastan, a veteran music executive who was previously CEO of Irving Azoff‘s Iconic Artists Group, has positioned Iconoclast as a company focused on “managing the overall brand and legacy of an artist, not just their music rights”.
Under his leadership, the firm has emphasized NIL exploitation, brand partnerships, and emerging technology — including a recent partnership with Vermillio to monitor the use of Tony Bennett’s name, image, voice and likeness on generative AI systems.
Should a deal close at around the $500 million mark, it would represent a significant transaction in the ongoing consolidation of the music rights market.
Sources told MBW when Iconoclast launched in early 2022 that the company was being backed by Pimco, the asset management giant with over $2 trillion in assets under management. Chastan refused to comment on that suggestion at the time.
MBW has contacted Iconoclast for comment.
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