ONE OK ROCK, FEVER 333 + More Publisher Royalties

Fourteen songs recorded between 2018 and 2024, spanning ONE OK ROCK, FEVER 333, Papa Roach, YONAKA, Blind Channel and Beauty School Dropout, with two of them attached to a major Japanese film franchise and a Netflix animated series. Most of the catalog is recent enough that its commercial life is still ahead of it.

The earnings reflect that. The catalog produced $34,497 over the trailing twelve months against $8,718 in the twelve months before. The step change came when Japanese collection opened in September 2025 on two 2024 ONE OK ROCK releases, "Delusion:ALL" and "+Matter." Japan now accounts for 77% of trailing income, and it pays across four distinct channels. Performance is 29% of the catalog's income, paid digital downloads 24%, film and commercial synchronization 19%, and streaming 13%. 

Synchronization has proven recurring, with "+Matter" licensed to Asahi Super Dry, one of Japan's best-selling beer brands, for an advertising campaign that lifted the song's income from $466 to $3,601 in a single quarter. Two further songs sit on screen soundtracks. "Delusion:ALL" is the theme to Kingdom: Return of the Great General, the highest-grossing live-action release in Japan in 2024, and it generated a synchronization fee of roughly $4,900. "Hellfire" appears on the soundtrack to Arcane League of Legends: Season 2, the Riot Games series released on Netflix in November 2024, earning $2,546 over the trailing twelve months.

For an investor, the appeal is a catalog in its first full earnings cycle, with an income mix weighted toward a market that pays across downloads, performance and synchronization alongside streaming. ONE OK ROCK has now supplied the theme song to two films in the Kingdom series, a relationship that produced one of this catalog's two anchors.

ONE OK ROCK is the most commercially significant act represented. Formed in Tokyo in 2005, the band has passed a billion Spotify streams, sold in excess of three million units worldwide, and headlines stadiums in Japan alongside arena tours across Europe, Asia and North America. Two of their songs are in this catalog, both from the 2024 album Detox. "Delusion:ALL" was the album's lead single, released July 12, 2024 in tandem with Kingdom: Return of the Great General, for which it serves as theme song. "+Matter" followed on December 6, 2024 and has since been licensed to a national Asahi Super Dry advertising campaign in Japan.

FEVER 333 accounts for the largest number of tracks. The Inglewood-formed group blends hardcore punk, hip-hop and rap-rock, has been nominated for a Grammy for Best Rock Album, and built its reputation on politically charged performances. Their catalog entries run from "Walking In My Shoes" and "Out Of Control/3" in 2018 and 2019 through "$wing" in 2023 and a 2024 cluster including "Ready Rock," "NEW WEST ORDER," "NO HOSTAGES" and "Higher Power." "Hellfire," released November 9, 2024, appears on the soundtrack to Arcane League of Legends: Season 2, the Netflix series adapted from Riot Games' franchise.

The remaining songs are collaborations. "Swerve" is a 2021 Papa Roach single featuring FEVER 333 and Sueco, from a band with more than three decades of rock radio history. "Clique" pairs the British alternative act YONAKA with FEVER 333, also 2021. "Wolves In California" is a 2024 recording by Blind Channel, the Finnish group that represented their country at Eurovision. "Star Phucker" is a 2021 Beauty School Dropout track featuring Royal & the Serpent.

Together the catalog reflects a decade of collaborative writing across scenes and territories, anchored by two Japanese releases from 2024.

Earnings Note. The 4Q2025 distribution contains a synchronization payment of approximately $4,900 from the use of "Delusion:ALL" as the theme song for the film Kingdom: Return of the Great General. Any similar payments in the future will be payable to the buyer.

Earnings Note. The payment schedule for this asset transitioned from bi-annaul to quarterly beginning in 3Q2022.