Musicians who sold their song catalogs for millions
Pink Floyd finally sign a deal with Sony for US$400 million
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MUSIC Entertainment
In the past, the publishing rights to a song would belong to the songwriter and the publisher (companies like Sony and Universal Music), while the recording rights usually belonged to the artist who performed the song and the record labels, with everyone involved earning royalties. However, the music industry is starting to change. From Bob Dylan to Justin Timberlake, it seems everyone and their mother are cutting multi-million dollar deals to sell their song catalogs.
After years of attempted deals and negotiations, Pink Floyd has finally sold their catalog to Sony for an incredible US$400 million. Contentious relationships between band members delayed the sale for years, most notably between the primary songwriters—Roger Waters and David Gilmour. Waters left the group during its peak in 1984 and the pair have been feuding ever since. The deal includes their recorded music, name, and likenesses, meaning Sony now receives royalties and can create merchandise. However, the band decided not to sell their songwriting catalogs, which are still held by the individual writers. They were originally looking for $500 million but experts say Waters' controversial public comments about Russia and Israel devalued their offer.
Click through this gallery to find out which other musicians have taken the plunge, and for how much.
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