If 2021 is remembered by the music industry, maybe it’s for the sheer number of successful rights deals we’ve seen this year.
And with just two months left in 2021, there could be at least one more iconic catalog sale underway.
According to Financial Time, the estate of David Bowie negotiates the sale of the catalog of compositions of the legendary artist.
Quoting “people familiar with the subject”, the FT further reports that negotiations “are at an advanced stage” and that the catalog has “attracted bids of around $ 200 million”.
The FT notes that “the agreement would span decades of albums” as The Rise and Fall of Ziggy Stardust and the Spiders of Mars, Let’s Dance and Hero.
Bowie’s catalog also includes albums like Hunky Dory and Alladin Sane.
As suggested in the FT article, this potential deal would take place during a âgold rushâ for music rights.
This month alone, BMG acquired what it called “a vast portfolio of rights” related to the music and image of Tina Turner which, according to MBW, would have cost the music company more than $ 50 million.
Meanwhile, Primary Wave rushed for a stake in assets held by the estate of the legendary Bing Crosby for a report. $ 50 million, as well as a participation in the catalog of Luther Vandross as part of an agreement with the estate of the iconic R&B star for an amount of $ 40 million.
In addition, the giants of the financial world are interested in the value of music rights.
Blackstone, one of the world’s most powerful financial players, has confirmed that it is investing around $ 1 billion to acquire the music rights through a partnership with Merck Mercuriadis.
Kobalt Capital, meanwhile, confirmed that investment giant KKR acquired the KMR Music Royalties II portfolio for around $ 1.1 billion.
And Apollo Global Management is investing up to $ 1 billion in the music rights and media company led by Sherrese Clarke Soares, HarbourView.Music trade around the world