The Spinners sell their catalog of music

[jack020]

https://www.soultracks.com/story-the...s-sell-catalog

[[June 28, 2023) Over the past few years, we've read about many of the biggest music stars of the 70s, 80s, and 90s selling their catalogs for big bucks. Bob Dylan, Bruce Springsteen, Sting and more have receiving tens and sometimes hundreds of millions of dollars in exchange for all or part of their rights to their biggest hits. We haven't heard a lot of stories like that in the soul music world, so it is a big deal now that four members of the legendary vocal group The Spinners, soon to be inducted into the Rock & Roll Hall of Fame, have sold their catalogs and master royalty income to the independent music company, Reservoir Media, Inc. The deal represents the sole remaining living founding member Henry Fambrough, as well as the late Billie Henderson, Pervis Jackson, and Bobbie Smith.
Regarding the deal, negotiated by Spinners' attorneys Paul Mathis and Marvin Katz, Fambrough said, “I am ecstatic that the heirs of Bobbie, Pervis and Billie received the proceeds of what is a significant catalog sale. With this sale and the timing of this induction into the Rock and Roll Hall of Fame, I am extremely honored but lamented Bobbie, Pervis, Phillipe and Billie are not here to share the catalog sale and Hall of Fame ceremony, both a wonderful moment in time.”
Reservoir Executive Vice President of A&R and Catalog Development Faith Newman added, “The Spinners and their catalog of hits are truly timeless. The way their music continues to connect with listeners and live on decades after release is a testament to all their towering musical achievements.” She added, “It is a true honor to continue building the Reservoir catalog with legends like The Spinners, and we look forward to supporting their enduring legacy.
The history of The Spinners is that of a group that hung together through years of lean times before finally achieving the success that their talent warranted. They spent nearly the entire 1960s as Motown’s “forgotten” group, never quite receiving the attention of the label’s other major acts, until Henry Fambrough, Billy Henderson, Bobby Smith, Pervis Jackson and G.C. Cameron received a gift from their friend Stevie Wonder in the form of the song that became their breakout hit, 1970’s “It’s a Shame.” Ironically, by the time the song topped charts around the world, The Spinners’ contract with Motown was over, and their good friend, Aretha Franklin, helped them to land at the rising Atlantic music label. It was on that label, teamed with legendary songwriter/producer Thom Bell, that the group's fortunes took off.
Beginning with a string of smash hits from the group’s self-titled 1972 Atlantic debut, and continuing for the remainder of the decade, The Spinners and Thom Bell became arguably the most successful musical pairing of the era. Now iconic hits such "I'll Be Around," "Could It Be I'm Falling In Love," "Mighty Love," "Games People Play," "Then Came You" [[with Dionne Warwick), and "I'm Coming Home" lit up the charts and moved The Spinners to the A-List of popular musical acts around the world.
The Spinners remained a top touring act long after their hitmaking days were done, and a younger version of the group [[blessed by Fambrough, who retired earlier this year) continues to perform around the world with success.
The terms of the Spinners deal were not announced. But we wonder if this transaction will open the door for other classic soul acts to monetize their past hits for their benefit and their benefit of their families. Stay tuned.
By Chris Rizik

[mr_june]

Just wondering, how can a group sell the rights to music they did not create? Does it not belong to the record company or the writer[[s) who own it? Set me straight.

[reese]

Just wondering, how can a group sell the rights to music they did not create? Does it not belong to the record company or the writer[[s) who own it? Set me straight.

Maybe they have obtained the rights to their masters. They probably are selling off their artists' royalties as well.

[mr_june]

Maybe they have obtained the rights to their masters. They probably are selling off their artists' royalties as well.

Thanks Reese. Never heard an instance of that before.

[Boogiedown]

they're mostly dead.... don't how they are selling anything...