Concord has acquired a portion of songwriter, musician, and producer Johnny McDaid’s song catalog.
McDaid is a key collaborator of Ed Sheeran’s – co-writing many of the British artist’s biggest hits – and is also a member of the band Snow Patrol.
McDaid has also written for the likes of P!nk, Lewis Capaldi, Keith Urban, Shawn Mendes, Zara Larsson, Alicia Keys, and Jung Kook, amongst many others.
MBW understands that Concord’s catalog acquisition includes both the writer’s share and publisher’s share of many McDaid songs released in the past few years, including Ed Sheeran’s Shivers and Bad Habits, plus BTS’s Permission to Dance.
As a part of the new deal, Concord will represent McDaid’s future works as publishing administration partner.
(Sony Music Publishing is the long-time administrator of many of McDaid’s biggest hits to date; it is expected that in the wake of the Concord deal, SMP will continue in this role under ongoing contractual terms.)
That Hipgnosis-acquired bundle of songs – all released before April 2019 – included McDaid’s “100% interest” in Ed Sheeran hits such as Shape Of You, Bloodstream, and Galway Girl.
In a press release issued today (January 29), Concord also said that amongst its acquired McDaid catalog is an interest in Ed Sheeran’s 2014 smash Photograph.
(In its 2020 announcement, Hipgnosis also claimed to have acquired an interest in this song, possibly suggesting that one party has writer’s share and the other has publisher’s share.)
“Johnny is a true artist. His songwriting, whether with his band or for other artists, is both personal and universal,” said Jim Selby, Chief Publishing Officer at Concord.
“Johnny is a true artist. His songwriting, whether with his band or for other artists, is both personal and universal.”
Jim Selby, Concord
Added Selby: “His catalog to this point has reached incredible heights, culturally resonating around the world. We’re thrilled to represent some of his iconic works and honored to partner with Johnny for the future.”
The multi-Grammy-nominated, multi-Ivor Novello-winning songwriter has worked as a writing partner for a wide range of artists.
His catalog includes co-writes with pop stars including Robbie Williams and BTS, and bands such as Biffy Clyro, Thirty Seconds To Mars, and Kodaline, as well as David Guetta and singer-songwriters like Birdy, Maisie Peters, and, of course, Ed Sheeran.
McDaid co-wrote seven of the songs on Sheeran’s multi-platinum album X, including Photograph and Bloodstream, the latter of which was nominated for Best Song at the 2016 Ivor Novello Awards. X won the Brit Award for Best Album and was Grammy-nominated in the same category.
In 2017, McDaid co-wrote eight songs on Sheeran’s multi-platinum album ÷ (as of 2024 the most streamed album of all time on Spotify).
He co-wrote the hit Shape Of You, which went to No.1 in the US and in the UK (where it stayed for 14 weeks), earning him another Grammy nomination, this time for Song of the Year, and went on to win an Ivor Novello Award for Most Performed Work.
McDaid also co-wrote The Joker and The Queen, from ÷, which landed a feature from Taylor Swift.
“These songs that I am honored to have been a part of creating, are some of the most important things in the world to me. I am very glad that they have found a home at Concord Music Publishing, and I am excited to work with the team there, now and in the future.”
Johnny McDaid
McDaid went on to co-write 10 songs on Sheeran’s 2021 album =, including the biggest singles Shivers and Bad Habits. The latter was a UK No.1 for 11 weeks and earned a further Grammy nomination for Song of the Year and won McDaid another Ivor Novello for Most Performed Work. Each of the singles has over 1.5 billion streams on Spotify.
Commenting on his deal with Concord, McDaid said: “These songs that I am honored to have been a part of creating, are some of the most important things in the world to me.
“I am very glad that they have found a home at Concord Music Publishing, and I am excited to work with the team there, now and in the future.”
Coming from Derry, Northern Ireland, McDaid moved to London in his late teens and learned to write songs busking to crowds of passersby.
“The craft of songwriting started when I was in the streets in London and I would play covers,” said McDaid. “I’d throw in my own songs and get a very quick reaction. I could feel whether or not people connected with what I was writing. It was an honest schooling.”
The musician spent the next decade leading his band Vega4. When the band split, Snow Patrol’s Polar Patrol Publishing made McDaid their first signing.
McDaid eventually began touring with the band and subsequently joined in 2011.
The agreement between McDaid and Concord negotiated on behalf of Concord by Reed Smith LLP.
McDaid was represented by Michael Poster and Claire Hoffman of Michelman & Robinson, LLP, along with his business manager, Kevin McCullough and his lawyer, Willie Ryan.
The deal arrives three months after Concordsuccessfully closed its latest Asset-Backed Securities (ABS) transaction, which saw the company raise $850 million in debt financing through a private securitization backed by its catalog of music rights.
The company said on Monday (October 28) that the transaction would “fuel strategic growth and acquisition[s]” and that it underscores its “ongoing effort to strategically grow and monetize its music assets and position the company as a consequential force in the music industry”.
News of the ABS deal arrived shortly after Concord spentUSD $217.3 million on the catalog of Latin Music artist and songwriter Daddy Yankee.
Concord acquired parts of the music publishing and recorded music catalog of the reggaetón star, including rights to his own hits including Rompe, Gasolina, and Con Calma, plus his featured artist role on Despacito.
Concord manages more than one million compositions, master recordings, and related assets across writers/artists including stars such as R.E.M, Creed, Genesis, Phil Collins, Mike + The Mechanics, and Carrie Underwood.
In 2023, Concord bulked up its frontline recorded music credentials with the announcement of a JV label, PULSE Records, with the widely respected Pulse Music Group team.
Concord became a majority owner in Pulse Music Publishing via a $100m+ deal in 2020. PULSE has seen success in the US and globally this year with the Tommy Richman hit Million Dollar Baby (PULSE Records/ ISO Supremacy).
Concord, which continues to be majority-owned by its long-term backer, State of Michigan Retirement Systems, entered into a process of exploring a sale itself (engaging Goldman Sachs as its wing-person) a couple of years ago.
That process led to a ~$5 billion takeover offer from an unnamed suitor, but this price-tag wasn’t deemed large enough for the company, which was looking for “extraordinary” offers only.
