Musicbird expands portfolio with catalogue of celebrated producer Rick Parashar

 

MusicBird (the “Company”), the boutique music rights company which invests in time-tested catalogues with proven quality and growth potential, has completed an acquisition deal with the estate of multi-platinum selling, Grammy-nominated producer Rick Parashar, a central figure in the 1990s Seattle grunge scene. The investment comprises Parashar’s producing income from albums by Nickelback, Alice in Chains, Blind Melon and 3 Doors Down, further expanding MusicBird’s portfolio of music rights, growing it to more than 2,000 songs from several hundred artists.

 

Since entering the market in 2021, MusicBird has built a portfolio of diverse music rights across genres and geographies, managing them in close partnership with publishers, labels, and other industry stakeholders. Through careful deal-making and value-focused management, it has delivered exceptional revenue and capital value growth across its catalogues.

 

Rick Parashar (1963–2014) was an American record producer, mixing engineer and musician. He co-founded the famed London Bridge Studios alongside his brother Raj in 1985, with the studio becoming the centre of Seattle’s music scene, hosting many of the biggest names in rock and grunge. From it he co-produced multi-platinum records for artists such as Pearl Jam, Alice in Chains, Temple of the Dog and Blind Melon, including Pearl Jam’s Ten and the eponymous albums of Temple of the Dog and Blind Melon.

 

In addition to platinum albums for Bon Jovi and Melissa Etheridge, he also later produced 3 Door’s Down’s smash hit album Away From the Sun and Nickelback’s Silver Side Up, which sold over 10 million copies worldwide and earned him a Grammy nomination for the global hit single ‘How You Remind Me’.

 

MusicBird’s investment comprises Parashar’s producer income from both of these projects, as well as his work with Blind Melon and Alice in Chains. The catalogue acquired has over 20 million album sales and four billion collective Spotify streams, including hit songs such as ‘How You Remind Me’ (Nickelback), ‘No Rain’ (Blind Melon), ‘Here Without You’ (3 Doors Down) and ‘Would?’ (Alice in Chains).

 

Paul Brown, CEO of MusicBird said: “With proven, lasting success and including numerous iconic modern rock songs, Rick’s catalogue fits perfectly with our strategy of building a dynamic, hit-driven collection of music rights. Rick was instrumental in shaping the rock sound of Seattle and he continued to create hits as a producer right up until his passing. We are honoured that his family has placed its trust in MusicBird as the custodian of his work.”

 

Raj Parashar, brother of Rick Parashar and Co-Founder of London Bridge Studios, said: “It is heartwarming to see that so many of the songs Rick helped to create and record are still finding success and reaching new audiences today. We have been struck by the MusicBird team’s genuine passion and care for his work and we trust that they will honour Rick’s legacy moving forward.”

 

MusicBird is assembling a collection of carefully selected music rights in proven hit songs, delivering significant income and valuation growth, underpinned by the team’s detailed understanding of the music market and disciplined deal making. The diversified portfolio includes income streams from publishing, masters, neighbouring rights, producer and mixer royalties from a host of iconic artists and songwriters, including songs recorded by artists such as Rihanna, Jason Derulo, One Direction, One Republic, Shaggy, Sean Kingston and Ultravox.

 

Scott D. Harrington of Harrington Music Law Group, P.C. represented the Parashar Estate. Peter Kalish brokered the transaction.