Primary Wave Music, known for managing Stevie Nicks and Prince catalogs, is expanding into literary territory. The music publisher partnered with writer-entrepreneur Richard Hurowitz to launch Atticus Works, a venture acquiring rights to major authors' backlist titles. They're targeting the #BookTok phenomenon with a $100 million initial investment.

This move follows the music catalog boom that has reshaped entertainment investing in recent years. Private equity firms and music publishers have spent billions acquiring songwriter catalogs, betting on streaming royalties and licensing opportunities. Now Primary Wave aims to replicate that model in publishing, where backlist titles often generate steady but undermonetized revenue streams.

Hurowitz, who will lead Atticus Works, argues that even successful writers undersell their existing books. The company plans to repackage and market older titles to younger readers discovering literature through TikTok's viral book recommendations. CEO Larry Mestel indicated the firm could deploy additional capital as attractive opportunities emerge.

The venture represents a calculated bet that social media can unlock value from dormant literary assets. Publishers have historically underinvested in backlist marketing, focusing instead on new releases. If successful, this could reshape how the industry values older content and attract more financial players to literary rights.