Country songwriter Ashley Gorley, a prolific figure in Nashville's music scene, has sold a significant portion of his music catalogue to Domain Capital, a music investment firm. The deal, reportedly worth around $40 million, was announced in late 2020 after Gorley's partnership with Sony Music Publishing.
According to Music Business Worldwide, this sale is part of Domain Capital's larger $700 million fund, which focuses on acquiring music rights from various artists and songwriters.
Gorley's extensive catalogue includes hits written for artists like Blake Shelton, Carrie Underwood, and Luke Bryan. His songs have amassed over 100 million streams on Spotify alone. By selling a portion of his catalogue, Gorley joins the growing list of artists and songwriters who have chosen to monetize their music rights.
Billboard also reported on this deal, highlighting the increasing trend of music investment firms buying music catalogues.
For more information on music rights and the various types of music rights, check out the Copyright Clearance Center or the National Music Publishers' Association.