Business

David Guetta sells music catalog for $ 100 million


Warner Music agrees to buy David Guetta’s recorded music catalog և enters new record deal with music’s more than $ 100 million deal, according to people familiar with it – the latest example of a booming music rights market is returning is growing.

The 53-year-old French DJ Tit behind the hits of “Titanium” և “Play Hard” և producer, is one of the youngest musicians to cash in on the huge demand for private equity bands, record labels ip Hipgnosis demand: ,

Warner will acquire Guetta’s recorded music for two decades, and the deal includes a deal for future recordings. The companies did not disclose the terms, but the price is over $ 100 million, says a person familiar with the matter.

“A lot of people came to us to take an interest in David’s catalog,” said Guetta manager Guan an-Charles Carr. Guta said the deal would help “work on my extensive catalog, continue to build my career.”

Musicians owned by Bob Dylan, Blondie, and Stevie Knicks have become willing sellers of their song catalogs due to rising ratings and lack of travel revenue during the epidemic. The barrage of deals has effectively doubled the value of song copyright over the past five years.

The remaining David Guetta has sold over 50 million albums © EPA

But Guetta, who has sold over 50 million albums in his career, is unique in selling his own recordings, which are managed in addition to the song underlying the song. Many artists do not own their recorded music, which is usually inferior to recording labels.

In recent years, in particular, artists have begun to protest against this system Taylor Swift after his recordings were sold to financial buyers. Swift has started releasing new versions of his old albums in an attempt to devalue his back catalog and cancel the deal.

The revenue stream for the music industry grew for six consecutive years, including a 7.4 percent increase to $ 21.6 billion last year, according to the IFPI industry group. Streaming for streaming has boosted the value of music rights to breathe new life into old songs.

Warner Music, the third-largest label behind artists, including Lizzo and Ed Sheeran, reported net income of $ 117 million, with revenue of $ 1.3 billion in the quarter to the end of March. The band went public last year, raising $ 1.9 billion for owner Leonard Blavatnik. Shares of the company fell 7% this year to $ 17.6 billion.



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