Musician Sting has sold his entire music catalog to Universal Music Publishing Group, the company announced on Thursday, making the former police leader the latest legendary artist to cash in on the rights to their music.
The sale to Universal includes and includes hits from his solo career like ‘Fields Of Gold’ and his early years with the police like ‘Every Little Thing She Does Is Magic’, ‘Every Breath You Take’ and ‘Roxanne’, as well than the next versions.
Financial terms of the deal were not disclosed, but New York Times estimated to be worth around $300 million.
Universal noted that Sting’s relevance to young artists gives the company an opportunity to capitalize: his songs have been covered in recent years by Fall Out Boy, as well as sampled by Juice WRLD, Kygo and Avicci.
In 2020, Universal paid over $300 million for Bob Dylan’s publishing rights – the artist sold his catalog of recordings to Sony in January for an estimated $150-200 million.
“It’s absolutely essential to me that all of my career work has a home where it’s valued and respected, not only to connect with long-time fans in new ways, but also to introduce my songs to new ones. audiences, musicians and generations,” Sting, 70, whose real name is Gordon Matthew Thomas Sumner, said in a statement.
Bruce Springsteen, Paul Simon, Dylan and Neil Young directed Forbes‘ list of the highest-paid artists of 2022, published on Wednesday, based on the sale of their music catalogs. For many of these older artists, the decision to sell was driven by estate planning and as a way to avoid high taxes. And as the pandemic continues to cripple the live concert industry, legends are jumping at the chance to keep the money flowing.
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