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Tuesday morning MUSIC NEWS FUN FACT:
Over the past few years, artists and bands have been selling their music catalog to record companies. Basically, they’re selling the rights to their songs…and that includes all royalties paid when their music is used. This is immediate income for the artist.
Bob Dylan sold his musical catalog four years ago for hundreds of millions of dollars. After Dylan sold his – other artists followed.
Bruce Springsteen sold his for $500 million.
KISS, Sting, Phil Collins sold theirs for $300 million each.
AND NOW, after a long period of negotiations, Sony Music has agreed to take all of QUEEN’s songs off their hands. PRICE TAG: $1.27 billion Canadian. No one has ever paid more for a music catalog in the history of music. Part of the deal also says Sony will own the band’s logos / videos / images / merchandise. REMARKABLE!!
