Like Bruce Springsteen, Red Hot Chili Peppers, Bob Dylan and Shakira, David Bowie’s music became the property of a label. The heirs of the rock chameleon sold the entire music catalog to Warner Chappell, who now has the publishing rights to hundreds of songs.
“All of us at Warner Chappell are immensely proud that the David Bowie estate has chosen us to be the curators of one of the most innovative, influential and enduring catalogs in music history,” announced the label’s co-president and CEO. , Guy Moot. These are not just extraordinary songs, but milestones that have changed the course of modern music forever. Bowie’s vision and creative genius led him to go further, lyrically and musically, writing songs that defied convention, changed the conversation, and have become part of the canon of global culture. His work encompassed major pop hits and experimental adventures that have inspired millions of fans and countless innovators, not just in music, but in all arts, fashion and media. “
Throughout his six-decade career, Bowie, who is responsible for hits like ‘Space Oddity’, ‘Changes’, ‘Life on Mars’, ‘Ziggy Stardust’, released 26 albums, not counting the posthumous studio, Toy , which will be launched this Friday. “The deal also includes Tin Machine’s two studio albums, along with tracks released as soundtrack singles and other projects,” notes The Hollywood Reporter. “The news comes as ‘Bowie 75’, a celebration of the singer, kicks off this month with pop-ups in New York and London.”
The aforementioned outlet contacted Warner Chappell, but maintain that they declined to comment on “the financial terms.” However, the figure would rise to 250 million dollars, which was paid for the six decades of music by the singer who would turn 75 on January 8. So far, the sale of the Bruce Springsteen catalog would have been the most expensive transaction, as it would exceed $ 500 million, according to two people who testified for Billboard.
On the Bowie family’s side, attorney Allen Grubman said: “We are truly pleased that the David Bowie body of music is now in the capable hands of Warner Chappell Music Publishing. We are sure that they will appreciate it and take care of it with the greatest dignity ”.
Regarding the “mega-deals”, at the end of 2021, The New York Times pointed out that only Sony had invested 400 million in recent months. “Major music companies and private equity firms, attracted by increased streaming and the promise of growing music revenues in the coming years have invested billions of dollars to buy song catalogs.”
In other scenarios, they comment that the pandemic “triggered the sale of music catalogs”. Investor interest in the industry has also been underpinned by rising streaming revenues, which appear to be stable over the long term, have low interest rates and reliable earnings projections for artists who stand the test well. time, “said AFP, citing specialist Nari Matsuura, from Massarsky Consulting. “Deprived of tours and presentations since the Covid-19 pandemic broke out, musicians are now looking to monetize their catalog, whose value continues to increase.”
Source-larepublica.pe