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Mick Fleetwood sells music royalty rights to BMG
Another day another big name music rights deal as Fleetwood Mac co-founder Mick Fleetwood sells his interest in recordings including global hits Dreams and Go Your Own Way to music publisher BMG.
Fleetwood has sold the rights to the royalties from over 300 recordings spanning albums including Fleetwood Mac, Rumours and Tango In The Night.
The deal means that BMG will also cash in on the royalty proceeds of the success of Dreams on video sharing site TikTok, which became a global viral hit when a middle-aged skater posted a video of him skating while lip-syncing to Stevie Nicks’s vocals.
The video was viewed almost 3 billion times on TikTok and prompted a surge of almost 200m streams of the song and 86,000 sales of the album Rumours in the US, 43 years after its release.
Fleetwood is the latest big name star to sell his music royalty rights as artists look to cash in on investors in turn aiming to capitalise on the value hit songs have in the streaming era.
Justus Haerder, executive vice president of group strategy and M&A at BMG, said:
“This acquisition highlights the value of timeless recordings in a streaming market which is increasingly benefitting established rather than newer artists.”
On Wednesday, Shakira announced that she had sold the publishing rights to her 145-song catalogue, which includes global hits Hips Don’t Lie and Whenever, Wherever to Hipgnosis.
Last week Hipgnosis, the London-listed music royalties investment firm, announced three deals including a 50% share in Neil Young’s 1,180 song catalogue and that of former Fleetwood Mac guitarist Lindsay Buckingham.
Last year Stevie Nicks, the Fleetwood Mac singer and solo artist, sold a majority stake in her catalogue for $100m to the music publisher Primary Wave.
The biggest deal to date was announced last month when Bob Dylan sold the publishing rights to his entire catalogue of songs, including Blowin’ in the Wind and Knockin’ on Heaven’s Door, to Universal Music for an estimated $300m.
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