The British singer-songwriter is the latest in a line of music stars who are selling their catalogs to investors who license the music for commercials, movies, TV shows and streaming services.
The British singer-songwriter is the latest in a line of music stars who are selling their catalogs to investors who license the music for commercials, movies, TV shows and streaming servicesSting is selling his music catalog, including hits he made with the Police and as a solo artist, joining a chorus of stars who are cashing in with investors who see value in licensing their songs.
Universal said Thursday that its music-publishing arm bought the catalog, including “Every Breath You Take,” “Roxanne" and “Fields of Gold.” Financial terms were not disclosed. In recent months, Bob Dylan, Bruce Springsteen, Paul Simon, Stevie Nicks, Neil Young and others who sold millions of albums to Baby Boomers have sold their recordings, songwriting catalogs or both. Buyers typically get the permanent right to use the artist's songs or recordings in commercials, movies, television shows and other formats.
Prices are rarely disclosed, but music industry experts put Springsteen's sale to Sony Music Entertainment in December at $550 million and Dylan's deal the same month with Universal Music Publishing Group at between $300 million and $500 million.
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Every song he made: Sting sells music catalog to UniversalSting is selling his music catalog, including hits he made with the Police and as a solo artist, joining a chorus of stars who are cashing in with investors who see value in licensing their songs. Universal said Thursday that its music-publishing arm bought the catalog, including “Every Breath You Take,” “Roxanne' and “Fields of Gold.” Financial terms were not disclosed.
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