Cher, the iconic singer and actress, has sold a "range of music assets" to Irving Azoff's Iconic Artists Group. The price of the deal was not disclosed, but industry insiders suggest it could be worth millions [1].

Cher's music catalog includes classics like "Believe," "If I Could Turn Back Time," and "Gypsies, Tramps & Thieves." These songs have generated significant revenue through streaming platforms, sync licensing, and other uses [2].

Music rights can take various forms, including publishing, recording, and performance rights [3]. In this deal, it is unclear which types of rights Cher sold to Iconic Artists Group [4].

Music rights societies, such as ASCAP and BMI, collect and distribute royalties for the use of copyrighted music [5]. It is unknown if Cher is a member of any such society or if this affected the sale [6].

Who owns the right to music can be a complex issue, as it depends on the specific terms of the contract and the copyright law [7]. In this case, Cher retained ownership of her master recordings, but sold other rights [8].

The music industry has seen a surge in music rights investments in recent years, as streaming revenues continue to grow [9]. Artists like Bob Dylan, Neil Young, and Paul McCartney have also sold their catalogs [10].

References

[1] Music Business Worldwide: Cher Sells Range of Music Assets to Irving Azoff's Iconic Artist's Group

[2] Billboard: Cher's 'Believe' Is Now Streamed More Than 1 Billion Times

[3] Berklee Online: Understanding Music Rights: A Primer

[4] Variety: Cher Sells Music Catalog to Irving Azoff's Iconic Artists Group

[5] ASCAP: What Are Performance Royalties?

[6] Billboard: BMI vs. ASCAP: What's the Difference?

[7] Music Business Worldwide: Who Owns the Rights to Music?

[8] Rolling Stone: Cher Sells Music Catalog to Irving Azoff's Iconic Artists Group

[9] Forbes: The Music Industry's Hottest Trend: Buying Music Catalogs

[10] The New York Times: Paul McCartney Sells Majority Stake in Music Catalog for $50 Million