Former Recognition Music CEO Ben Katovsky Leaves Catalog Fund for Top Job at Pipeline

Ben Katovsky, who previously ran the Blackstone-backed music catalog investment firm Recognition Music Group, was appointed CEO of the advance financing platform Pipeline on Thursday (Oct. 15).

Founded and chaired by veteran music investor and former Francisco Partners private equity executive Matt Spetzler, Pipeline launched with $200 million in lending capital to independent music companies for artist finances, using the label’s digital royalties as the collateral. As more artists sign short-term distribution deals, which allow them to retain ownership and often the majority of the income their music generates, having enough cash on hand to keep rising stars is a persistent problem for indie companies.

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Pipeline inked a partnership with Merlin and acquired the tech-forward music valuation firm Clarty Partners earlier this year. Now, fresh off the sale of Recognition’s portfolio of 45,000 songs, which included compositions by Neil Young, Shakira, Journey  and Red Hot Chili Peppers, Katovsky teams up with Spetzler to bring the pair’s music rights, investment and business-building experience to Pipeline’s partners.

“We started Pipeline because there is enormous value in music IP, and too many of the companies that own it haven’t had the backing to realize their ambitions,” Spetzler said in a statement. “Ben is one of very few people who has built, financed and run a world-class rights business at scale, delivering very strong outcomes for investors while caring for the music and the people behind it.”

During Katovsky’s time leading Recognition, it completed a $372 million asset-backed security issuance prior to the sale of its catalog to Sony Music Publishing in July. Before Recognition, Katovsky spent seven years at BMG, where he rose to the role of COO. Originally from South Africa, Katovsky got his start at Counterpoint Systems, developing technology solutions for managing intellectual property.

“I’ve spent my career at the intersection of music, technology and investment, working with some of the most innovative companies in our business,” Katovsky added in a statement. “Pipeline is building a different model for how companies and creators can access capital, giving songwriters, artists, labels and publishers greater flexibility and control over how they grow. Matt and the team have built something impressive and I’m excited to be joining them to empower the music and wider creative industries.”