Bob Dylan Sells Entire Catalog to Universal

[jobeterob]

https://www.cnn.com/2020/12/07/media/bob-dylan-song-catalog/index.html

[PeaceNHarmony]

Stevie Nicks also made major bank, selling 80% of her catalog for $100 million. My guess is that with covid raging, touring basically done with, and the age of our heritage artists they are getting the $ while they can, and who can find fault with that? Not I.

[Motown Eddie]

Stevie Nicks also made major bank, selling 80% of her catalog for $100 million. My guess is that with covid raging, touring basically done with, and the age of our heritage artists they are getting the $ while they can, and who can find fault with that? Not I.

You're right about that PNH. Here's an article that further explains what's going on.

Why Rock's Biggest Stars Are Selling Away Their Publishing Rights [[ultimateclassicrock.com) [[https://ultimateclassicrock.com/rock-stars-selling-publishing-rights/)

[milven]

Here is another interesting article about the subject which suggests that 'Right now, hit songwriters are driving Ubers'


https://www.bbc.com/news/entertainment-arts-55232418

[kenneth]

Fascinating articles, guys, but really difficult to understand on some levels… how the labels manage to get so much control over artists and writers in this day and age is difficult to comprehend.

Thanks for posting Milven and MotownEddie.

[jobeterob]

Play Richie Sambora
on Amazon Music Unlimited [[ad)
Bob Dylan, David Crosby and Stevie Nicks are joining the growing ranks of artists who are signing away the publishing rights to the songs they've written – even though that's widely considered to be the most lucrative aspect of the music industry.

Nicks sold an 80 percent stake in her catalog to Primary Wave, covering both her Fleetwood Mac and solo work. Financial details weren't disclosed, but the Wall Street Journal estimates the agreement netted about $100 million. Dylan's sale of his entire catalog of more than 600 songs to Universal Music Publishing, revealed today, is believed to be worth more than $300 million, according to the New York Times.



Modern-era changes in royalty payments and tax implications involved with estate planning are likely part of this decision-making process. Crosby, who rose to fame with other Dylan acolytes in the Byrds before co-founding Crosby Stills and Nash, also said the on-going coronavirus pandemic played a key role.

"I can’t work, and streaming stole my record money," Crosby said via Twitter. "I have a family and a mortgage and I have to take care of them, so it’s my only option. I’m sure the others feel the same."

Primary Wave and Universal have caused the most recent ripples, but the company making the biggest splashes in the pool is the London-based Hipgnosis Songs Fund. Founded in 2018 by artist manager Merck Mercuriadis, Hipgnosis had a market capitalization of $1.66 billion as of last week. They boast a portfolio of some 60,000 songs, including the catalogs of Journey, Blondie, Richie Sambora, Chrissie Hynde, Nikki Sixx and Steve Winwood, as well as 10 of the Top 30 most streamed songs on Spotify.

The upshot is that these arrangements mean greater exposure for acts by licensing their songs for movies, commercials, television shows and video games. With streaming services putting less money in the hands of artists, these new lump-sum deals, Mercuriadis believes, benefit them more than the corporations.

“I’m not in the publishing business; I’m in the song-management business," Mercuriadis told Rolling Stone. "There’s a paradigm that I’m a catalyst for changing, paradigms that have existed for decades and people think are OK and normal. ... The three big recorded-music companies use their leverage of owning the song companies to ensure those companies don’t advocate for songwriters, and they push the economic improvement we’ve seen with streaming so they, not the artist, get the lion’s share of the money at the songwriter’s expense. If nothing else, we’re a catalyst for changing that.”

Sambora didn't take this transaction lightly: "These songs are very important to me and I feel very strongly that Merck is the only person I could have entrusted my babies to," Sambora said when his deal was announced in March. Sixx later called Hipgnosis "an artist-friendly, forward-thinking company," adding that he was "grateful that they will treat my music with great care and respect.”


Mercuriadis says his approach is to look at music as a commodity, like gold or oil, albeit one that's not as subject to unforeseeable events that affect the value. He notes that the pandemic and its impact on the global economy have caused people to look to music to get them through tough times.

“The year 2020 has been one of challenges which the world has never before experienced, with a devastating impact on society and much of the economy as a result of the COVID-19 pandemic,” Mercuriadis told Music Week. “Lockdown has also significantly changed music consumption, with more listeners reaching for songs they grew up with for comfort and escape. This leaves us perfectly placed during these challenging times with a portfolio concentrated around incredibly successful and culturally influential proven hit songs that are in high demand."

Mercuriadis prefers to work with proven hitmakers who have control over their masters because it gives them greater control in the decisions, as opposed to publishing companies that took advantage of young, unsuspecting acts. "These are the houses that the artists built and paid for and therefore, if they choose to sell their house, that's on them," he told Complex. "I'm empowering them when I write them a check and I'm empowering them when I go after improving their place in the economic equation.”

Of course, not all deals are created equal. Asked if he'd get the same kind of money as Dylan, Crosby simply said: "Not a chance."





Read More: Why Rock's Biggest Stars Are Selling Away Their Publishing Rights | https://ultimateclassicrock.com/rock-stars-selling-publishing-rights/?utm_source=tsmclip&utm_medium=referral

[StuBass1]

This has been going on for some time as many musicians, composers, and publishers have decided to cash in now and take less versus going to the mailbox for checks all the time, and investors have come up with models to amortize their return on investment...At least Universal is experienced and has people to properly market the product... It's a similar business model to those companies that pay cash for long term payouts, annuities, lottery winnings, etc of any kind, but with a bit more risk to the purchaser based on usage...A well known artist/songwriter/producer told me that he and Lionel Ritchie were approached several years ago on a proposal and they went to lunch to hear an offer... Lionel came back from the restroom and asked his friend.., what are we doing here???... It is a way for, especially marginal songwriters, to get money to meet current living expenses, and more successful musicians and writers to just cash in and invest their payouts... I do know another ex-Motown songwriter friend who once told me...I just like going to my mailbox and seeing those royalty checks...

[milven]

Of course, Universal will now be licensing out Dylan's catalogue to get their investment money back.

So be prepared to hear BLOWING IN THE WIND playing in the next GAS-X commercial

https://encrypted-tbn0.gstatic.com/shopping?q=tbn:ANd9GcRe-uTV2w5tbWwyTIVUoee-IGl8OZPVjNYFDNZJUoQN5kg6ZsALeRkS3_pg3ogEiwRThF_qXR mluOjztQ&usqp=CAchttps://media.istockphoto.com/vectors/fart-from-mans-butt-wearing-jeans-vector-id1186695649?k=6&m=1186695649&s=612x612&w=0&h=palxCNh5eEFfXTFAYSbZRv3-yO66yjSQPtETsTpthvs=

[StuBass1]

David Crosby is selling his music too... A lot of big money catalogues... Come to think of it... with the likely incoming administration, the promise to significantly raise taxes, especially the wealthy, these writers are probably smart to cash in before capital gains eats up an additional 10% or more of their money...

[sansradio]

Of course, Universal will now be licensing out Dylan's catalogue to get their investment money back.

So be prepared to hear BLOWING IN THE WIND playing in the next GAS-X commercial

https://encrypted-tbn0.gstatic.com/shopping?q=tbn:ANd9GcRe-uTV2w5tbWwyTIVUoee-IGl8OZPVjNYFDNZJUoQN5kg6ZsALeRkS3_pg3ogEiwRThF_qXR mluOjztQ&usqp=CAchttps://media.istockphoto.com/vectors/fart-from-mans-butt-wearing-jeans-vector-id1186695649?k=6&m=1186695649&s=612x612&w=0&h=palxCNh5eEFfXTFAYSbZRv3-yO66yjSQPtETsTpthvs=

Somebody must be a Jimmy Fallon fan like me!;)

[milven]

Somebody must be a Jimmy Fallon fan like me!;)

Yes, you are right. I "crack"ed up when I heard that one and had to "pass" it on :D

[destruction]

Maybe I'm missing something.....Dylan wrote the songs....performed the songs....let others perform the songs and was paid no matter who performed/recorded the songs....sold the songs for a king's ransom....And it will NEVER be disputed that Dylan.... wrote the songs. Right?

I like Fallon...and most comedians.

[jobeterob]

But he won't get money like he did previously - he got a load upfront

[destruction]

a load like this

https://www.youtube.com/watch?v=zXH6fhueO3I&feature=emb_logo

and therefore he won't be getting those daily $2,000 royalty checks?

[nativeNY63]

So where does his example leave everybody else [[Kanye & G.O.O.D.Music, I'm looking at you)?!