In recent years, there has been a growing trend of legendary musicians and bands selling their catalog, brand name, and intellectual property rights for staggering sums of money. This trend has been fueled by the increasing dominance of streaming platforms in the music industry, with catalog music accounting for two-thirds of all music streamed and streaming contributing to 84% of all music industry revenue. This shift in the industry has prompted artists like Kiss, Bruce Springsteen, Bob Dylan, and Paul Simon to cash in on their back catalogs.
Some of the most notable deals include Bruce Springsteen selling his music catalog to Sony Music Group for an estimated $550 million in 2021. Bob Dylan also made a significant deal in 2020 when he sold his publishing rights to his catalog of more than 600 songs to the Universal Music Publishing Group. Paul Simon, Neil Young, David Bowie, Taylor Swift, and Justin Bieber are among the other artists who have also cashed in on their catalogs in recent years, with deals ranging from hundreds of millions to over $300 million.
Taylor Swift’s battle to reclaim her masters gained attention in the industry when music manager Scooter Braun acquired her former label, Big Machine Label Group, for an estimated $300 million to $350 million in 2019. Swift responded by re-recording and releasing new versions of her early albums in an effort to regain control of her music. Despite her efforts, Braun subsequently sold Swift’s catalog to a private equity firm for more than $300 million. Similarly, Kiss recently sold their catalog, brand name, and IP to a Swedish company for over $300 million.
Other artists who have sold their catalogs include Justin Bieber, Sting, Phil Collins, Shakira, and Stevie Nicks, with deals ranging from undisclosed sums to $300 million. These deals highlight the increasing value of music catalogs in today’s music industry landscape, where streaming revenue plays a significant role in driving the market. The trend of selling music catalogs is likely to continue as artists look to capitalize on their legacy and secure their financial futures in an ever-changing industry.
