In a significant move for the music industry, German media company Bertelsmann Music Group (BMG) has acquired the entire catalogue of legendary singer-songwriter Harry Nilsson. The financial details of the deal have not been disclosed.
Nilsson, who passed away in 1994, is known for his unique vocal style and a diverse repertoire that spans various genres, including pop, rock, and folk. Some of his most popular songs include "Without You," "Everybody's Talkin'," and "Coconut."
The acquisition of Nilsson's catalogue comes as part of BMG's ongoing strategy to expand its music rights portfolio. Music rights are the intellectual property rights that give the owner the exclusive right to exploit a musical composition or recording. These rights can include the right to reproduce, distribute, perform, and create adaptations of the work.
Music rights societies like ASCAP, BMI, and SESAC play a crucial role in managing and licensing these rights on behalf of songwriters and publishers. According to Billboard, the music publishing industry saw a 10% increase in revenue in 2019, driven in part by the growing demand for synchronization licenses in film, TV, and advertising.
BMG's acquisition of Nilsson's catalogue is a testament to the enduring value of music rights. By owning the rights to Nilsson's music, BMG gains the ability to license his songs for use in various media and commercial contexts, potentially generating significant revenue.
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