British music legend Rod Stewart has made a significant move by transferring his music rights to Iconic Artists Group, securing a nearly $100 million agreement. This strategic partnership places Stewart’s extensive catalog, including his publishing rights, recordings, and certain name and likeness rights, under the guardianship of a company that boasts ownership of music rights of luminaries like Cher, Graham Nash, and Nat King Cole.
Owned by Irving Azoff, the former Ticketmaster CEO, Iconic Artists Group has recently fortified its investment arsenal with $1 billion aimed at expanding its portfolio of legendary music rights. This acquisition highlights Stewart’s enduring value in the music industry, aligning his worth with the likes of Jason Aldean and David Guetta, who have also clinched deals in the $100 million range.
At 79, Stewart shows no signs of slowing down, embarking on a global tour and teasing the release of his 32nd studio album. His enduring appeal is underscored by his 13-year-long residency at the Colosseum at Caesars Palace in Las Vegas, which is slated to conclude this summer with its milestone 200th performance.
In a surprising revelation earlier this month, Stewart expressed skepticism about the lasting impact of Ed Sheeran’s music, despite Sheeran’s considerable success on the Billboard Hot 100. Stewart humorously admitted to not being familiar with Sheeran’s work, mistakenly referencing George Ezra instead.
Iconic Artists Group, established by Azoff in 2018, aims to secure the legacies and revenue streams of influential artists. Its impressive roster has grown to include the Beach Boys, Joe Cocker, and assets related to Dean Martin and Nat King Cole, among others. This trend of investing in music legends’ catalogs is driven by the potential for timeless music to remain profitable, especially as songs find new audiences through platforms like TikTok and television.
The recent trend has seen a myriad of artists, including Justin Bieber and Bruce Springsteen, cashing in on their catalogs for substantial sums, demonstrating the lucrative market for iconic music rights in the digital age.
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