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John Legend Profits From Selling Songwriting Catalog To BMG, KKR – Rolling Stone

Acquisition covers musician’s output from 2004 through early 2021, including hits like ‘All of Me’, ‘Ordinary People’ and ‘Glory’

John Legend has sold its publishing catalog and royalty rights to BMG and investment firm KKR for an undisclosed amount, Bloomberg reports.

According to regulatory filings, BMG Rights Management and KKR each purchased a 50% stake in Legend’s catalog. The deal covers all of the music Legend wrote from late 2004 through early 2021, an impressive body of work that includes hits like “Ordinary People,” “Green Light,” “All of Me,” and his track. winner of the Grammy Awards and the Oscars in 2014 with Common, “Glory”.

Reps from BMG, KKR and Legend did not return immediately rolling stone‘s requests for comments.

Legend’s catalog is the second BMG and KKR have acquired together since announcing a new partnership in March. In December, the music company and the investment company announced that they had jointly entered into ZZ Top’s publishing rights and any income from recorded music royalties and performance royalties (based on the documents regulations, it appears the Legend deal was done in November, a month before the ZZ Top deal was announced). While they’ve only made two joint purchases so far, BMG and KKR have been busy separately during the catalog gold rush: BMG acquired the catalogs of Mick Fleetwood, Tina Turner and Mötley Crüe, while that KKR bought a majority stake in Ryan Tedder’s publishing rights earlier this year.

While the majority of hit catalog acquisition deals announced in recent years have involved legacy artists like Bob Dylan, David Bowie, Bruce Springsteen and Stevie Nicks, Legend isn’t the only contemporary artist or songwriter. to cash. Along with Tedder, hitmaker Ali Tamposi (who has written for Beyoncé, Camila Cabello, Kelly Clarkson and more) sold his publishing catalog to Influence Media, while Shakira and the Red Hot Chili Peppers sold their publishing rights. edition to the Merck Mercuriadis Hipgnosis Songs Fund.