Now days, the thing to do is sell their rights and music catalogs. Artists with decades of hits are doing this to get a one time huge payday. Instead getting paid royalties each time their songs are played, they opt to take a huge payment at once, so they’re not waiting years down the road again to get paid. Artists like David Bowie, Bruce Springsteen, Bob Dylan, Stevie Nicks and more have all sold their catalogs for big paydays!
The newest artist to do so, Huey Lewis. He has sold the rights and catalog of Huey Lewis And The News‘ music for about $20 Million Dollars! Now compared to other artists who get six figure deals, this seems very minimal. But for Lewis and those involved, it’s not bad. It is $20 million more than they had before.
He sold a majority of their music catalog to a company called Primary Wave Music. Which artist will be next up to do so? It’s only a matter of time before this becomes common for all music artists.
We have more on this story and more in today’s Entertainment News!