Publishing rights are a lucrative business, as Michael Jackson found out after he acquired 251 Beatles songs for more than $47 million in 1985 and doubled his money 10 years later. But that catalog was cheap by today’s standards. Bob Dylan sold all his song rights to Universal Music for what Rolling Stone magazine estimates to be around $400 million in late 2020. Dylan had been one of the few artists who had retained the rights to their own catalog. But the balladeer has joined a slew of top-selling music artists who have recently made their publishing rights prized currency in a song acquisition boom. Just this week, the Red Hot Chili Peppers also got in on the act. The evergreen rock four-piece sold their publishing rights to Hipgnosis Songs Fund for over $140 million (€116.2 million), according to the music publication Billboard . Earlier this year, Neil Young also sold the rights to 50% of his songs, including such classics as “Heart of Gold,” to the same investment fund for a reported $150 million. Similar megadeals were also recently struck between Hipgnosis, which was founded in 2018, and the diva Shakira, as well as with former Fleetwood Mac member Lindsey… Read full this story
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