The amount obtained by the artist was less than what musicians like Bob Dylan and Bruce Springsteen achieved by doing the same
Rod Stewart sold his music catalog to Iconic Artists for almost US$100 million. Read artist statement:
This year marks my 60th year in the music industry. The timing is right, and I feel fortunate to have found partners in Irving [Azoff] and his team at iconicin whom I can trust my life’s work and musical legacy.
“We are thrilled to welcome one of the most celebrated singer-songwriters of our time, Rod Stewartthe family iconic“, he said Irving Azoffpresident and CEO of iconic. “Our new partnership with HPS gives us the resources and flexibility to make successful signings like this and continue the success of our legendary artists and their legacies.”
“A iconic has built an impressive platform and portfolio of artists, and we are happy to provide financing that will enable the company to further grow its business and advance its mission of defending the rights of musical talent,” he added Scott Frenchgoverning partner of HPS.
Although the settlement amount is considerably lower than that obtained by Bob Dylan, Bruce Springsteen or Genesisfor example, who profited between US$700 million and US$300 million from various rights, Rod Stewart produced fewer hits than these artists.
However, over the course of his six-decade career, he has had 10 number one albums and contributed to the Jeff Beck Group and in The Faces. His songwriting catalog encompasses hits such as “Maggie May”, “Stay With Me”, “You Wear It Well”, “You’re in My Heart” and “Do Ya Think I’m Sexy?”.
Source: Rollingstone
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
