In early November, reports indicated that David Bowie’s estate was negotiating a $ 200 million sale of the Let’s dance editorial catalog of the creator. Now, Warner Music Group (WMG), through its Warner Chappell publishing division, has officially acquired the intellectual property in the music.
Warner Chappell unveiled his “milestone deal” with David Bowie’s estate via an official statement this morning. The multi-million dollar transaction follows a “historic career partnership” between the parties in September, which covered David Bowie’s recorded catalog. (Madonna and David Guetta signed similar deals with WMG in 2021.)
But today’s purchase includes “all of Bowie’s work,” specifically encompassing the 26 studio albums the London native created during his lifetime as well as the Rock and Roll Hall of Fame inductee. posthumously Toy (2021). These albums by the five-time Grammy winner (and 19 times nominated) brought fans well-known tracks such as “Space Oddity”, “Life on Mars? “,” Golden Years “and” Modern Love “, to name a few. some.
Also featured in the catalog sale are the two studio albums of Tin Machine (1989 Tin machine and 1991 Tin Machine II) and “songs released as singles from soundtracks and other projects,” said Warner Chappell.
Addressing the deal in a statement, Warner Chappell Co-President and COO Carianne Marshall made it clear that her company intends to take Bowie’s music “to dynamic new places,” reaching ” several avenues and platforms ”in the months and years to come.
“This fantastic pact with David Bowie’s estate opens up a world of opportunities to take his extraordinary music to dynamic new places. … All of our global leaders and departments are incredibly excited and ready to get to work with these brilliant songs across multiple avenues and platforms. And with both sides of WMG now representing Bowie’s career, we couldn’t be better organized to represent this illustrious body of work.
A number of parties (not just the Big Three labels and their publishing houses) have invested billions in musical intellectual property in 2020 and 2021, and today’s deal suggests the ultra-expensive trend could continue throughout 2022.
Over the past month or so, James Brown Estate, “Eye of the Tiger” songwriter Jim Peterik, Bruce Springsteen, Jellybean Benitez and ZZ Top have sold all or part of their musical intellectual property. Additionally, sources in mid-November said Sting was looking to cash in on its own catalog, and if the searing market for song rights is any indication, a deal could be in the works.
At the time of writing, Warner Music Group (NASDAQ: WMG) stock was up about 1% from its previous close, for a price per share of $ 43.55. WMG had hit a record high of over $ 50 around the end of October and early November, but the current value nonetheless reflects an improvement of around 18% from the start of January 2021.