23 Capital, a capital and solutions provider to the sports, music and entertainment (SM&E) sectors headquartered in London, has announced the appointment of Jack MacDonald as the head of music and entertainment origination for the UK.
MacDonald joins 23 Capital’s global team of music and entertainment specialists who work closely with artists and their managers, songwriters, music publishers and record labels to deliver innovative finance solutions, supporting creativity and flexibility. He previously worked for Credit Suisse where he was a director running the sports, media and entertainment desk for the UK private bank.
Speaking about his appointment, MacDonald said: “It wasn’t that long ago that collaborations between the music and finance sectors were deemed quirky, niche and risky. Little was understood about the robust, consistent revenue streams generated by the music business and coupled with the historically suspicious relationship that existed between the sectors, deals monetizing intellectual property were rare and of little intrinsic value. Because of a multitude of factors, we now find ourselves in a very different territory. Digital growth, globalization, sophisticated revenue analysis and the development of strong, transparent relationships, means that specialist music financing is now taken seriously by the music industry and it is able to deliver innovative funding and partnership solutions which supports creativity and flexibility. For funding providers like 23 Capital, who understand the diverse needs of artists, managers, songwriters, music publishers and record labels, exciting and successful times lie ahead.”
He continued: “It’s refreshing to join a growing company that combines deep individual expertise and experience with a firm team spirit and I’m tremendously excited to be on board.”
Stephen Duval co-founder of 23 Capital commented: “The digital revolution is transforming the music and entertainment industries and our clients require specialist knowledge of how this impacts their business needs. It’s a pleasure to welcome Jack MacDonald to the 23 Capital team. Jack brings essential insight and a deep understanding of the music and entertainment industries, helping 23 Capital to maximize the opportunities presented by the growth in the music, content and licensing sectors.”
Since inception in 2014, 23 Capital has deployed and advised on over $2.55bn of transactions. This has included debt financing the acquisition of music catalogues, funding an online digital rights platform; brand license exploitation and the financing for a VIP ticketing platform. 23 Capital has committed and partnership capital of over $2bn to invest across the SM&E sectors. It lends across multiple asset classes including highly visible and predictable IP cash flows including broadcasting rights, music royalties, licensing agreements and sponsorship, as well as traditional cash flow and project financings for SM&E clients globally.