John Legend sold his existing music catalog including royalty rights to KKR and record label BMG, as previously reported bloomberg And confirmed by Nerdshala.
Why is this BFD: The 43-year-old Legend is the first “midcareer” artist to have one of these deals, which are usually done near his twilight (or by the estates of those who died).
Description: It looks like it covers Legend’s work from late 2004 to late 2020. I am also told that there is a separate, parallel deal under which BMG will manage Legend’s future creations.
- No financial terms were disclosed. KKR and BMG announced a partnership last year to buy the music catalog, and recently announced that platform first deal, purchased ZZ Top’s publishing catalog for approximately $50 million.
Bottom-line: Dubbed ‘Music Mogul of the Year’ by Variety in 2020, Legend released his debut studio album ‘Get Lifted’ on December 28, 2004, and went on to expand into other areas of the entertainment space, to some extent. until the establishment of a production studio that produced shows for Netflix Inc. and ABC.” , Miles Weiss and Lucas Shaw, Bloomberg
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