What is Paul Simon's songwriting process
Paul Simon has sold his entire music catalog
Paul Simon joins Bob Dylan and Stevie Nicks in selling his songs to Sony Music amid increasing demand for music rights.© Provided by www.rollingstone.de
Paul Simon joins Bob Dylan and Stevie Nicks in selling his songs to Sony Music amid increasing demand for music rights.
Paul Simon (Simon & Garfunkel) has sold its publishing rights to Sony Music Publishing, the company announced on Wednesday (March 31st). The latest blockbuster catalog deal in the booming music rights industry.
Sony Music is proud to have Paul Simon
Sony reportedly bought the entire collection of its catalog, a spokesman said, but declined to give financial details of the deal. Sony now has one of the most famous song catalogs of the last 50 years. These include classics like "The Boxer", "Mrs. Robinson ”and“ Sound of Silence ”by Simon and Garfunkel as well as Simon's solo works such as“ Me and Julio Down By The Schoolyard ”and“ Graceland ”.
“Paul Simon's music is a cultural milestone for people all over the world. Representing his indelible songs is an incredible honor for Sony Music Publishing, so I am proud to welcome Paul into our family, "said John Platt, CEO of Sony Music Publishing, in a statement.
$ 400 million for Bob Dylan
Catalogs are repeatedly sold as a whole at record prices. Catalog buyers hope to add value to the songs by using them in movies, TV shows, commercials and generating more streams. The selling songwriters receive an immediate payout rather than risking potential future royalties.
Bob Dylan, for example, sold his catalog to the Universal Music Publishing Group for nearly $ 400 million, sources told ROLLING STONE. Stevie Nicks reportedly received $ 100 million for her publishing sale to Primary Wave. Other celebrities like Neil Young and Lindsay Buckingham sold their publishing rights this year, while Mick Fleetwood sold his phonograms to BMG.
Acquisitions are becoming increasingly competitive as companies scramble for the most productive music catalogs. BMG and the investment firm KKR recently formed a partnership to acquire additional music rights.
Read the original article at www.rollingstone.de
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