Stevie Nicks Sells Stake In Song Catalog For Reported $100 Million
ByJoseph Gibsonon December 11, 2020inArticles›Celebrity News
Stevie Nicks of Fleetwood Mac has made a very lucrative deal for a majority stake in the publishing rights to her catalog, reports The Wall Street Journal . An 80 percent stake, to be precise, which is now owned by music publisher Primary Wave, which intends to exploit their new ownership of the material with a big marketing push of the Nicks catalog, which includes well known songs like “Rhiannon” and “Edge of Seventeen.”
As Primary Wave Chief Executive Larry Mestel put it in a statement to the press:
“Stevie’s music, while exceptionally well known, is still very undercommericalized and undermarketed. There’s enormous upside potential for her songs to be reinvigorated and introduced to youth culture.”
Dimitrios Kambouris/Getty Images
That spike in the band’s profile and Nicks’ own catalog might have contributed to the scope of her Primary Wave deal, but publishing rights in general have been soaring in value over the last several months, in part because the COVID-19 pandemic has shown them to be a mostly recession-proof asset that can deliver big profits in the streaming era. Recently, Taylor Swift’s masters were sold by her nemesis Scooter Braun to an investment firm, and DJ Calvin Harris sold the publishing rights to his own catalog for a reported $100 million. Music legend Bob Dylan also just closed a deal with Universal Music Publishing Group for some $300 million .
- Stevie Nicks Net Worth
- Nathan “Doggface” Apodaca Says Stevie Nicks Is Preventing “Dreams” From Being Included In NFT Sale
- The Biggest Music Catalog Sales Of The Last Year
- Justin Bieber Is On The Verge Of Inking Massive Music Rights Deal
- Bob Dylan Lands ANOTHER Massive Catalog Sale – Offloads Recorded Music Catalog To Sony For $200 Million
- David Bowie’s Estate Sells His Publishing Catalog For $250 Million
