Inside ‘Tidal Wave’ of Song Catalog Sales: Why Neil Young, Bob Dylan and More Are Cashing in
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“People are almost treating catalogs like they would treat bonds,” lawyer James Sammataro says
More than 30 years after Neil Young sang, “Ain’t singing for Pepsi, ain’t singing for Coke / I don’t sing for nobody, makes me look like a joke,” the iconic songwriter sold a 50% stake of his complete catalog of some 1,180 songs, opening the door for his music to be licensed in ways beyond his control.
What seemed unthinkable not just for a political folk icon like Young but for many rock stars has now become a trend. In recent weeks, artists like Stevie Nicks, Lindsay Buckingham, Jimmy Iovine and even Bob Dylan have cashed in what many songwriters consider their most prized possessions.