David Bowie’s estate sells his music publishing catalog for over $250M

David Bowie's property has bought his catalog of music for round $250 million, in line with stories.
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David Bowie’s property has inked a take care of Warner Chappell Music, the publishing arm of Warner Music Group, to promote the singer’s music publishing catalog, the corporate stated Monday.

The sale comes as a part of a rush of comparable offers with ZZ High, Bruce Springsteen and Bob Dylan, all of whom bought their music catalogs to publishing teams in current months.

The Bowie catalog, which incorporates six a long time of hits like “Area Oddity,” “Adjustments,” “Life on Mars?” and “Ziggy Stardust,” bought for upward of $250 million, in line with stories.

The deal comes amid the “Bowie 75” celebration, surrounding the late singer’s seventy fifth birthday on Saturday, Jan. 8. It contains songs from the 26 David Bowie studio albums launched throughout Bowie’s lifetime, in addition to the posthumous studio album launch, “Toy.” It additionally contains the 2 studio albums from “Tin Machine,” together with tracks launched as singles from soundtracks and different initiatives.

“All of us at Warner Chappell are immensely proud that the David Bowie property has chosen us to be the caretakers of probably the most groundbreaking, influential, and enduring catalogs in music historical past,” Warner Chappell Music co-chair and CEO Man Moot stated, “These usually are not solely extraordinary songs, however milestones which have modified the course of recent music perpetually.”

The Bowie catalog, which incorporates six a long time of hits like “Area Oddity,” “Adjustments,” “Life on Mars?” and “Ziggy Stardust,” bought for upward of $250 million, in line with stories.

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“We're actually gratified that David Bowie’s physique of music will now be within the succesful arms of Warner Chappell Music Publishing,” stated lawyer Allen Grubman, who represented Bowie’s property. “We're positive they may cherish it and care for it with the best degree of dignity.”

Final September, Warner licensed the worldwide rights to the “Let’s Dance” singer’s profession spanning music from 1968 via 2016. Monday’s publishing deal is the newest in a flurry of acquisitions by file firms to personal the music libraries of iconic singers.

Final month, ZZ High bought its music catalog to funding agency KKR and file firm BMG for $50 million, simply weeks earlier than Bruce Springsteen bought his iconic track and publishing catalog to Sony Music for a whopping $500 million.

Final yr, Bob Dylan bought his large 600-song catalog to Common Music Publishing Group for a reported $300 million to $400 million in December 2020. Across the identical time, Fleetwood Mac singer-songwriter Stevie Nicks bought 80 p.c of her rights to her personal songwriting catalog, together with hits like “Landslide” and “Fringe of Seventeen,” to music writer Major Wave for a reported $100 million.

David Bowie’s songs had been bought as a part of a rush of different artists additionally promoting their catalogs to make the most of music firms flush with money — and likewise a brand new wave of curiosity from streaming firms.

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And in line with stories late final yr, Common Music Group has been upfront talks with Sting to purchase his music for $250 million.

The offers are a part of a protracted string of established artists promoting their songbooks to big-pocketed traders or music labels. They’re additionally fueled by streaming, which gives the opportunity of extra profitable royalties as prospects flock to providers like Spotify and Apple Music.

Such offers have ramped up through the coronavirus pandemic due partially to low rates of interest that make it simpler for firms to borrow cash to buy giant belongings.