Following reports that Bruce Springsteen and the David Bowie estate are negotiating multi-million dollar catalog sales, Sting, 70, is now looking to cash in on his own music intellectual property, sources say.
News of a possible Bruce Springsteen catalog sale surfaced around the beginning of November, after unnamed sources with knowledge of the matter broached the subject. Springsteen, 72, from New Jersey, these people said, is in talks to sell both his recorded and publishing catalogs as part of a deal with Sony Music, which bought Paul Simon IP earlier this year and did not publicly address the Springsteen negotiations. .
Additionally, David Bowie’s estate, after signing a “historic, career-spanning partnership” with Warner Music Group in September, is currently buying the artist’s “Modern Love” songwriting catalog, per sources. anonymous once again. Those sellers are reportedly seeking $200 million for the entire job, and Warner Music rolled out more than half a billion dollars in senior tickets this week.
Now, as noted at the start, Sting has reportedly added his name to the growing list of artists seeking catalog-related deals.
Former police frontman Sting, who is due to release his 15th studio album tomorrow, is in “advanced talks” to sell his publishing catalog to UMPG (which has snapped up Bob Dylan’s catalog despite massive competing offers) or to Sony Music Publishing, according to Variety. The deal could net north of a quarter billion dollars, the same source reported, and could also include part of Sting’s recorded catalog as a solo artist.
But neither Sting (who recently wrapped up a residency in Las Vegas and will launch another such effort in June 2022) nor potential buyers have publicly commented on the matter, and it will be interesting to see when (and if) a deal is reached. comes to fruition.
Bearing in mind discussions of Sting’s catalog sale as well as those of the Springsteen and Bowie estate, it’s worth pointing out here that late 2020 and early 2021 delivered all manner of IP deals — with a particular focus on the period from mid-November to mid-January. Seemingly continuing the trend in 2021 and 2022, Reservoir is now taking a look at the catalog of producer and songwriter Dallas Austin.
During today’s trading hours, shares of the latter music company, which saw a 45% year-over-year increase in revenue during its second quarter as a publicly traded company, rose. fell 3.91%, to $8.35 each. Hipgnosis (LON:SONG) shares, on the other hand, made a small gain and ended at around $1.74 apiece, while Round Hill’s (LON:RHM) royalty fund remained essentially flat, at 1, $08 per share.