David Bowie's estate sells off back catalogue

Nearly five years to the day since the death of legendary musician David Bowie, the global music publishing rights to his entire music catalogue has been sold for around $250 million. Warner Chappell Music has purchased the catalogue which showcases the late artist’s work spanning six decades, and includes hits such as “Space Oddity,” “Changes,” “Life on Mars?”, “Ziggy Stardust,” “Starman,” “Rebel Rebel,” “Fame,” “Young Americans,” “Heroes,” “Modern Love,” “Let’s Dance,” and more.

“This fantastic pact with the David Bowie estate opens up a universe of opportunities to take his extraordinary music into dynamic new places,” WCM’s co-chair and COO, Carianne Marshall says in a statement. “This isn’t merely a catalog, but a living, breathing collection of timeless songs that are as powerful and resonant today as they were when they were first written.”

Over his career, Bowie recorded 26 studio albums, with the album Toy released posthumously. The singer died at the age of 69 on January 10, 2016, after an 18-month battle with liver cancer.

“All of us at Warner Chappell are immensely proud that the David Bowie estate has chosen us to be the caretakers of one of the most groundbreaking, influential, and enduring catalogs in music history. These are not only extraordinary songs, but milestones that have changed the course of modern music forever,” WCM co-chair and CEO Guy Moot states.

Allen Grubman, on behalf of David Bowie’s estate, adds, “We are truly gratified that David Bowie’s body of music will now be in the capable hands of Warner Chappell Music Publishing. We are sure they will cherish it and take care of it with the greatest level of dignity.”

Bowie’s estate joins many other estates, as well as living iconic musicians, who have decided to sell off their masters and publishing rights. Paul Simon, Bob Dylan, Stevie Nicks, Shakira, Blondie, and Neil Young are among those who have sold their music catalogue in the last few years. Per NPR, some of the contributing factors in this wave include stalled touring due to the pandemic, the desire to strengthen the existing estate, and the market reaching a new high.

Bruce Springsteen recently hit the jackpot on his discography, selling it to Sony Music for a whopping $500 million. But like all inflating markets, it’s anticipated that this bustling bubble will eventually pop.

Источник: Lifehacker