Rod Stewart performs in New Zealand in April 2023.Photo:Dave Simpson/WireImage
Dave Simpson/WireImage
SirRod Stewartis the latest artist to sell the rights to his song catalog.
Stewart sold his interests in his publishing catalog and recorded music, along with some name and likeness rights, to music mogul Irving Azoff’s Iconic for nearly $100 million, theWall Street Journalreported on Thursday. The company has also raised $1 billion to invest in artists' music assets.
Representatives for Stewart did not immediately respond to PEOPLE’s request for comment on the value of the sale.
Rod Stewart in Berlin in September 2018.Stefan Hoederath/Getty Images
Stefan Hoederath/Getty Images
“This year marks my 60th year in the music industry. The time is right, and I feel fortunate to have found partners in Irving and his team at Iconic that I can entrust with my life’s work and future musical legacy,” Stewart said of the sale.
“We are thrilled to welcome one of the most celebrated singer-songwriters of our time, Rod Stewart, to the Iconic family,” Azoff, Chairman and CEO of Iconic, added. “Our new partnership with HPS provides us with the resources and flexibility to make blockbuster signings like this one and to continue the success of our legendary artists and their legacies.”
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Stewart is a two-time inductee into the Rock & Roll Hall of Fame, and has had countless hits over the years including “Do Ya Think I’m Sexy?,” “Sailing,” “The First Cut Is the Deepest,” “Hot Legs” and “Have I Told You Lately That I Love You.”
He’s had 16 Top 10 singles in the U.S., withBillboardranking him as the 15th greatest artist of all time.
MeanwhileCher, The Beach Boys, Joe Cocker, Nat King Cole andLinda Ronstadtare just a few artists among Iconic’s star-studded roster.
Stewart’s sale comes after it was reported in September thatKaty Perry had soldtherights to her songs and albumsreleased between 2008 and 2020 to Litmus Music for a reported $225 million,DeadlineandBillboardreported at the time.
Katy Perry in New York City in November 2023.Gotham/WireImage
Gotham/WireImage
Perry has released some huge singles throughout her career, with seven of them reaching No. 1 on theBillboardHot 100: “I Kissed a Girl,” “California Gurls,” “Firework,” “E.T.,” “Last Friday Night (T.G.I.F.),” “Part of Me,” “Roar” and “Dark Horse”.
Keith Urban,Benny Blanco, andJustin Bieberare among the many big name artists to have sold the rights to their music over the years.
source: people.com
