Baby Boomer Rock Icons Are Selling The Rights To Their Songs

2 years ago
5

From Bob Dylan plugging in his electric guitar for the first time to Super Bowl commercials, there have always been moments in music history when the most die-hard fans will accuse their idols of doing the unthinkable: selling out. But right now ”’selling out” has a new connotation, and it is a boom market for both investors and superstar recording artists.

A wave of boomer rock icons are selling out of their song catalogs. The moves, the latest of which was made by Paul Simon last week, point to a straightforward truth about the intersection of art and money: Music has always been a business, and one where creative genius deserved to be rewarded with riches. And it is a business that right now is seeing major changes caused by streaming, and further disruptions caused by the pandemic. The deals from Paul Simon, Bob Dylan, Neil Young (in Young’s case a 50% stake) and Stevie Nicks (80% of the rights to her songs), highlight major trends in the entertainment industry, capital markets and wealth management.

https://www.cnbc.com/2021/04/04/why-theres-a-boom-in-boomer-rock-stars-selling-their-songs.html?curator=MusicREDEF

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