Warner Chappell Music (WCM) purchased the complete catalog of David Bowie, as announced this Monday by the multinational, which highlighted that it acquired songs published over six decades of his 26 studio albums Y celebrates it with the release of a posthumous album which will be available from this Friday, January 7.
Magazine Variety claims Warner paid Bowie’s heirs more than $ 250 million for the catalog of the musician who died in 2016, at the age of 69.
Among the songs purchased are hits such as Heroes, Changes, Let’s Dance, Ziggy Stardust, Starman, Rebel Rebel, Fame, or his collaboration with Queen from 1981, Under Pressure, to name the most popular.
Topics included in the transaction include Heroes, Changes, and Under Pressure. Photo REUTERS / Dylan Martinez
“These are not just extraordinary songs, but milestones that have changed the course of music modern forever, “WCM CEO Guy Moot said in a statement, describing the catalog as “groundbreaking, influential and imperishable”.
The agreement also includes the posthumous album Toy, which will be published this coming Friday, and which includes new recordings made in New York in 2000 of his songs published between 1964 and 1971, along with con a couple of unreleased songs.
Last September, this record giant already announced that it had acquired the rights to all the albums that Bowie recorded throughout his career.
Half of Bruce Springsteen
The figure of the $ 250 million is less than half of the $ 535 million they had talked about some British media in November, and it is far from the 500 million it paid Sony last December for the catalog of another music icon, Bruce Springsteen.
The agreement reached with Bowie’s estate was announced less than a week from what would have been his 75th birthday on January 8, and which was celebrated with the opening of two stores with British merchandising in London and New York, and with the publication in November of the record collection Brilliant Adventure (1992-2001).
The Bruce Springsteen catalog achieved a listing of more than $ 500 million. Photo ANDER GILLENEA / AFP
A phenomenon that does not stop
According to an article published by journalist Lola Lorca in Forbes, in January 2021, “the rise of the platforms of streaming has caused music catalogs to increase in value, “which would have attracted investors’ attention to the music universe.
From a 2020 Digital Media Association report Streaming Forward Report it follows that Music streaming revenue exceeded $ 10 billion in 2019, a 21% increase over the previous year, with streaming in the process of growth.
The Wall street journal says music catalogs are being commercialized between 10 and 18 times its annual value, which means that a catalog for which I would have paid about $ 46,000 could now reach a figure of between $ 4.4 million and $ 45 million. “
David Bowie’s posthumous album Toy will be available the day before his 75th birthday.
The songs that most benefit report are the oldest, given its longevity and thanks to the possibility of going viral through social networks, taking its interpreters to the lists of the most listened to, with the consequent increase in the value of their productions.
At the same time, the appearance of the pandemic, which forced concerts and tours to be put on standby, was also a possibility of exploit the catalog of the artists as an alternative to their absence from the stage, beyond the millionaire losses that, however, caused the cancellation of the shows around the world.
Source EFE Agency
Reference from clarin