Key Takeaways:
- Sting has decided to sell his music catalogue, joining a growing list of celebrities cashing in on investors who see a value in licencing their songs.
- For his work with the group and as a solo artist, Sting has received 17 Grammy Awards and numerous other honours.
Sting is selling his music catalog, which includes hits from his time with the Police and as a solo artist, joining a growing list of celebrities cashing in on investors who see a value in licensing their songs.
The catalogue, which includes “Every Breath You Take,” “Roxanne,” and “Fields of Gold,” was purchased by Universal’s music publishing arm on Thursday. The financial details were not disclosed.
Bob Dylan, Bruce Springsteen, Paul Simon, Stevie Nicks, Neil Young, and other artists who sold millions of albums to Baby Boomers in the latest months have sold their recordings, songwriting catalogues, or both.
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Buyers typically obtain a perpetual license to use the artist’s songs or recordings in commercials, films, television shows, as well as other formats.
Prices are rarely revealed, but music industry experts estimate that Springsteen’s December sale to Sony Music Entertainment was worth $550 million, and Dylan’s December deal with Universal Music Publishing Group was worth between $300 million as well as $500 million.
Sting, whose real identity is Gordon Sumner, was a founding member of the Police in London in the 1970s as the band’s lead singer, songwriter, and bass guitarist. The band, which fused new wave rock, reggae, and jazz, was inducted into The Rock and Roll Hall of Fame in 2003.
Sting has received 17 Grammy Awards and numerous other honors for his work with the group and as a solo artist. According to Universal, he has sold more than 100 million albums.
BMI announced in 2019 that “Every Breath You Take” had surpassed “You’ve Lost That Loving Feeling” was the most-played song in its catalogue.
Sting still performs live concerts and has appeared in over a dozen films.
Sting stated in a statement released by Universal Music Group that he wants his work to be used to connect with longtime fans in new ways and “to introduce my songs to fresh audiences, musicians, and generations.”
Source: CTV News
