Mercuriadis (left) and Rodgers launched Hipgnosis Songs Fund Limited at the London Stock Exchange in 2018 It's a glimpse into the way global content platforms like Netflix have also become a cash cow for music publishers, and partly explains the unprecedented money being paid for legacy artist publishing rights.
Hipgnosis, for example, holds the rights to four songs alone that can be heard in the fourth season of the hit streaming series The Crown. This expands the base for royalties way beyond record or streaming sales and radio airplay. The holder of music rights can also sell songs across diverse media such as films and streaming portals, as well as for advertising and cover versions. Song rights acquisitions can be highly lucrative in the long term as they can be exploited for up to 70 years after a musician's death. He added that what was a good deal for record sales is unsustainable for artists relying on low-subscription-price streaming services. "There are still a lot of legacy contracts where artists are treated more or less the same way when they stream music as when they sell records," Tschmuck said. Red Hot Chilli Peppers are among the megastars who have sold off their music catalog With a career spanning over six decades, Tina Turner's body of work includes hits such as "What's Love Got to Do With It" and "The Best." The singer known as the queen of rock 'n' roll has sold the rights to her music catalog to BMG, the music publishing company announced on Tuesday. Now Tina Turner has also joined in on the act. The 'queen of rock 'n' roll' signs a lucrative deal But the balladeer has joined a slew of top-selling music artists who have recently made their publishing rights prized currency in a song acquisition boom. Dylan had been one of the few artists who had retained the rights to their own catalog. Publishing rights are a lucrative business, as Michael Jackson found out after he acquired 251 Beatles songs for more than $47 million in 1985 ($116 million today €100 million) and doubled his money 10 years later.īut that catalog was cheap by today's standards.īob Dylan sold all his song rights to Universal Music for what Rolling Stone magazine estimates to be around $400 million in late 2020.
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