Veteran rock star Neil Young has sold half the rights to his song catalog to Hipgnosis Song Fund SONG, , as the U.K. publishing house looks to cash in on the boom in music valuations amid the popularity of streaming services.
The deal comes less than a month after Universal Music Publishing Group signed a historic deal to buy Bob Dylan’s entire songwriting catalog, including classics like “Blowin’ in the Wind,” and “The Times They Are A-Changin’” for a reported $300 million. Just days earlier, Fleetwood Mac vocalist and songwriter Stevie Nicks sold an 80% stake in her music to Primary Wave for an estimated $80 million.Music consumption has been surging thanks to streaming platforms such as Spotify SPOT, -0.
“This is a deal that changes Hipgnosis forever,” Mercuriadis said as he announced the deal on Wednesday. “I built Hipgnosis to be a company Neil would want to be a part of. We have a common integrity, ethos and passion born out of a belief in music and these important songs,” he added.
This notes for you, Neil🎼
A few sentences about streaming royalties over the last decade may have been interesting.
Hey, didn’t musicians complain about others owning their music? Now they sale them?
With today's victory in the Senate, KeepOnRockinInTheFreeWorld
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