David Bowie’s entire back catalogue has been bought by Warner Music Group (WMG) as part of a trend by artists to sell their worldwide copyright and income interests.
The deal, which was valued at over US$250mln according to entertainment magazine Variety, includes all songs from the 26 albums Bowie released as well as his subsequent album and two he made with the Tin Machine band.
It incorporates six decades of work including twentieth-century classics such as Heroes, Changes, Space Oddity, and Rebel Rebel.
"All of us... are immensely proud that the David Bowie estate has chosen us to be the caretakers of one of the most ground-breaking, influential, and enduring catalogues in music history,” said WMG chief executive Guy Moot.
"These are not only extraordinary songs but milestones that have changed the course of modern music forever,” he added.
Bowie’s estate and WMG also struck a partnership deal in 2021 that brought Bowie’s catalogue – from 1968 to his death in 2016 – under Warner’s ownership.
The musician, who was born David Jones in 1947, is not the only artist who has sold some or all of their rights to a music group in recent times.
Bob Dylan’s entire rights were sold to Universal Music Group in December 2020 for US$300mln (read here), while other large names such as Tina Turner and Bruce Springsteen (read here) have also sold their music rights.
Hipgnosis Songs Fund is another group that has been buying musician’s rights, including the US$150mln purchase of half of folk-rocker Neil Young’s song catalogue last year (read here).
Round Hill Music Royalty Fund (LSE:RHM) Limited and One Media iP Group PLC (AIM:OMIP) have also been acquiring catalogues from well-known artists such as Tim Palmer (that also includes some of Ozzy Osbourne’s tracks) and Don Williams (read here), respectively.