Date uploaded: 2022-01-26 22:17:34

Major musicians are selling their catalogs for millions. The notion of financially capitalizing on a body of recorded work – these audio temples crafted by artists throughout decades of career-building – used to be perceived as an act of desperation. But the trend the past couple of years, and even more prominently in recent months, finds some of the most lauded veterans in modern music – Bruce Springsteen, Bob Dylan, Tina Turner, Paul Simon – taking advantage of a motivated sellers market. Why the change? Experts point to a combination of interest rates remaining low, significant tax breaks for the artists and buyers from record companies and music rights groups recognizing the value of owning an established commodity. It’s a trifecta that targets not only musical warhorses, but artists still regularly notching hits, such as Imagine Dragons, Ryan Tedder and Shakira. “It’s ironic now, seeing clients cashing in and saying, ‘I own my work and now I’m going to sell it,’ ” says Guy Blake, managing partner at Granderson Des Rochers and chair of the firm’s music publishing practice. “It’s seen as a mark of distinction.” Click the link in our bio to see when and for how much some music greats sold their catalogue.