From Red Hot Chili Peppers to Shakira: 9 artists who sold their music catalogues

The Red Hot Chili Peppers have joined a number of musicians in the past year who have sold their music publishing rights in pricey deals. This particular deal is reportedly worth $140-150 million (Dh514-550 million) and was made with British investment firm Hipgnosis — who have bought the catalogues of a number of high-profile artists.

Industry tracker Billboard cited anonymous sources in first reporting the sale of the catalogue that includes hits like ‘Under The Bridge,’ ‘Californication’ and ‘Snow (Hey Oh).’ As most of the songs were written collectively by band members Flea, Anthony Kiedis, John Frusciante and Chad Smith, the purchase required joint approval.

Past reports have claimed that this slew of artists selling their catalogues comes as tour revenues have been wiped out during the pandemic. Traditionally, the owners of a song’s publishing rights receive payments in a number of scenarios, including radio play and streaming, album sales, and use in advertising and movies. The sales of their catalogues allow artists to receive immediate payouts rather than wait for those earnings. Here’s a look at other musicians who have sold the rights to the catalogue in the recent past:

In December 2020, iconic folk rocker Bob Dylan sold his full catalogue of over 600 songs spanning six decades to Universal Music Group’s music publishing arm. It was reportedly sold for $300 million and included 1960s counterculture songs like ‘Blowin’ in the Wind’ and ‘Like a Rolling Stone’.

Following Dylan’s sale, singer-songwriter David Crosby was asked on Twitter if he too would sell his catalogue. “I am selling mine also,” he tweeted in December 2020. “I can’t work... and streaming stole my record money... I have a family and a mortgage and I have to take care of them so it’s my only option... I’m sure the others feel the same.” Crosby, a founding member of groups the Byrds and Crosby, Stills & Nash, went on to sell his full music catalogue to Iconic Artist Group in March 2021.

Colombian pop star Shakira sold the rights to her music catalogue of 145 songs to Hipgnosis Songs Fund in January. The deal with the Grammy Award winner included her popular songs ‘Hips Don’t Lie’, ‘Whenever, Wherever’ and 2010 FIFA World Cup song ‘Waka Waka (This Time For Africa)’.

Neil Young sold a 50 per cent stake in his music to Hipgnosis Songs Fund in a deal announced in January. The company acquired half of the copyright and income interests in around 1,180 songs written by the rock star, who is the composer of famous songs ‘Heart of Gold’, ‘Rockin’ in the Free World’ and ‘Cinnamon Girl’.

Grammy winning singer Ryan Tedder, who has written songs with Adele, Beyonce, Paul McCartney, and for his rock group OneRepublic, sold a majority stake of his music catalogue to private equity firm KKR & Co in January. The catalogue of nearly 500 songs includes hit tracks such as ‘Counting Stars’ and ‘Apologize’.

In April 2021, Grammy winning singer Paul Simon sold his catalogue of songs that includes six decades of music, from his time in Simon & Garfunkel to his solo career. Some of his best known songs include ‘Bridge Over Troubled Water,’ ‘The Boxer,’ ‘The Sound of Silence,’ ‘Mrs. Robinson,’ ‘Homeward Bound,’ ‘I am a Rock’ and ‘50 Ways to Leave Your Lover.’

Two members of the popular rock group Fleetwood Mac have also cashed in. In December 2020, Stevie Nicks sold a majority stake in her catalogue to private music publishing and talent management company Primary Wave, reportedly for $100 million. The catalogue included her legendary songs ‘Dreams’ and ‘Landslide’.

Mick Fleetwood, the group’s co-founder, sold his back catalogue to BMG in January. It gives the company a share in the royalties from over 300 recordings including ‘Dreams’ and ‘Go Your Own Way’.