Concord Affiliate buys 145,000 music copyrights including several Motown artists

[woodward]

This information was released yesterday telling about a Concord affiliate buying 145,000 music copyrights. In the release it mentions Marvin Gaye and Stevie Wonder, but the pictured record album covers show Dance Party by Martha & the Vandellas.

https://www.downtownmusic.com/news/downtown-and-concord-announce-sale-of-downtowns-iconic-owned-copyright

I am not that smart of a person to understand the nature of this transaction. Perhaps someone more knowledgeable than me can expound on it.

[Sotosound]

I suspect that this is about music publishing.

The Concord affiliate will administer the publishing of songs, including promoting their portfolio by encouraging artists to record the songs and tunes to which they own the publishing, collecting royalty payments, paying royalties to the writers and composers, and keeping some money for themselves to pay for the work that they do, and to provide some profit, which is what underpins this.

[StuBass1]

It's about the current trend for publishers, artists, and composers to sell off their royalties for money today while the conglomerates collect the money for that property in virtual perpetuity... Owners of that artistic property often don't want to wait, nor do they care about royalties payable after their death...so they take a smaller amount now in a lump sum and the companies like Concord can wait to collect for years and years to come in dribs and drabs...

[marybrewster]

In the release it mentions Marvin Gaye and Stevie Wonder, but the pictured record album covers show Dance Party by Martha and the Vandellas.

I'm assuming the connection is that Marvin wrote "Dancing in the Street"?