MONDAY NEWS: 2022 is shaping up to be a blockbuster year for catalog acquisitions.
Shortly after a mere two weeks where Sting sold his whole catalogue to Universal’s publishing division for a brazen amount just shy of $300 million, fellow iconic singer-songwriter Neil Diamond has followed in Sting’s footsteps.
Like Sting, Diamond has seemingly had a moment where the Truth Hits Everybody and has realised that he just isn’t getting any younger.
The man behind many iconic soundtracks in culture, his work including Sweet Caroline and Red Red Wine, has charted a worthy music legacy resulting in 130 million albums sold in the last half century.
But as totals hot up with majors acquiring more and more stakes in music copyright, it begs the question: why are all the artists flipping?
Is it the ever-changing music industry causing unpredictable consequences or is it simply these established artists cementing their foundation – and ultimately securing their estate for generations to come?
What do you guys think? Why are all these artists selling over their catalogues to the titans of the industry? Is it a financial investment or is there something more going on behind the scenes?