The music rights to Pink Floyd’s back catalogue, which includes hits like “Comfortably Numb” and “Another Brick in the Wall”, might sell for $ 500 million. Apart from music companies, the bidders include private equity giant Blackstone Group and other Wall Street players. Earlier, music companies were the main players in the market for music rights. However, competition has increased as Wall Street now sees music rights as an interesting asset class. Investment companies are scouting for deals to buy music rights from artists who would prefer a one-time payoff, rather than get years of royalties. As a result, prices for music rights have skyrocketed in recent years. Apart from Pink Floyd, popular artists like Bruce Springsteen and Bob Dylan have sold off their music rights for $ 500 million and $ 400 million respectively, sums that were unheard of in the industry a few years ago.
Why are Investors Snapping up Music Rights?
Why are Investors Snapping up Music Rights?
Why are Investors Snapping up Music Rights?
The music rights to Pink Floyd’s back catalogue, which includes hits like “Comfortably Numb” and “Another Brick in the Wall”, might sell for $ 500 million. Apart from music companies, the bidders include private equity giant Blackstone Group and other Wall Street players. Earlier, music companies were the main players in the market for music rights. However, competition has increased as Wall Street now sees music rights as an interesting asset class. Investment companies are scouting for deals to buy music rights from artists who would prefer a one-time payoff, rather than get years of royalties. As a result, prices for music rights have skyrocketed in recent years. Apart from Pink Floyd, popular artists like Bruce Springsteen and Bob Dylan have sold off their music rights for $ 500 million and $ 400 million respectively, sums that were unheard of in the industry a few years ago.