Neil Diamond, iconic songwriter and the king of the blue jeans, is the latest artist to announce the sale of their back catalog, after reaching a deal with Universal Music Group for an undisclosed amount for his song catalog and recording rights.
It’s the latest high-profile, and presumably high-value (though the details weren’t disclosed), deal for a veteran artist in recent months.
Universal (UMGP) recently bought the rights to Sting’s song catalog for roughly $300 million, Sony (SNE) – Get Sony Corp. Report bought the rights to Bruce Springsteen’s master recordings and music publishing rights for a deal estimated to be more than $500 million and also bough Paul Simon’s catalog for an undisclosed amount.
Funk Gods the Red Hot Chili Peppers sold their song catalog to Hipgnosis Song Management for a deal said to be upwards of $140 million. Stevie Nicks, the White Witch herself, sold her catalog to Primary Wave for $100 million. Mötley Crüe sold their rights to BMG Rights Management for a reported $150 million, which is certainly something to shout at the devil about.
