BMG Buys Dope Lemon's Catalogue: Price Undisclosed

Australian indie band Dope Lemon, led by Angus Stone, has sold its recording catalog to BMG. The financial details of the deal have not been disclosed, but it's clear that BMG continues to expand its catalog with notable Australian acts.

Dope Lemon, formed in 2013, is known for their laid-back, psychedelic sound. Their music has been streamed over 100 million times on Spotify alone. Angus Stone, the band's founder, has a successful solo career as well, with over 350 million streams.

BMG's acquisition of Dope Lemon's catalog adds to their growing collection of Australian artists. Previously, they acquired the catalogs of artists like Tina Arena and The Veronicas. This deal also highlights BMG's commitment to acquiring catalogs from emerging artists.

The sale of music catalogs has become a popular trend in the music industry. Music rights, including recording and publishing, can generate significant revenue through streaming and synchronization deals. According to the Music Rights Society of America, the total revenue from mechanical licenses in the US reached $2.1 billion in 2020.

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