Friday, January 22, 2021

Mick Fleetwood goes his own way with BMG rights deal

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Mick Fleetwood has sold his share of future royalties derived from Fleetwood Mac songs to music company BMG, underscoring the increasingly fragmented nature of the lucrative song rights market as individual artists strike their own deals.

The drummer, who co-founded the band in the 1960s, is the third member of the band to sell a share of their royalties in the past six weeks but each has gone their own way by making deals with different companies.

Primary Wave, the US fund, acquired a majority stake in the Stevie Nicks catalog in a deal valued between $ 80 million and $ 100 million in December, while Hipgnosis, the UK-listed fund, bought the rights to Lindsey Buckingham’s songbook. last week for an undisclosed sum.

Artists ranging from Bob Dylan to Shakira have taken advantage of the fuel the frenzy for rights in recent months, deals with niche funds, music labels and private equity buyers looking to invest in lucrative back-end catalogs that have exploded in value in the streaming age. The latest Fleetwood deal illustrates the complexity of the music market, with several companies now owning a portion of the royalty streams from hits such as “The Chain” and “Go Your Own Way”.

“Dreams,” the song written by Stevie Nicks that aired 3.2 billion times on TikTok last year when a video that used it went viral, reflects the different types of royalty rights artists sell. .

Primary Wave cited success when it purchased the editing rights to Stevie Nicks – which pays off when a song is played and also covered by another artist, performed live or used by advertisers or in a movie or a television show. BMG also reported “Dreams” as it announced its own deal, but instead acquired Mick Fleetwood’s share of future royalties on the original recording which takes the biggest share when the song is aired or played.

He did not say what he paid for the rights to Mr. Fleetwood, which include 300 songs dating back to the 1960s when the band that bears his name was a British blues group. The German music company, which is part of the Bertelsmann media conglomerate, said it was its biggest acquisition in two years.

Mick Fleetwood said: “This is a wonderfully inspiring marriage between two creative partners who understand all aspects of the business.”

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