In 2018, Concord Music acquired a significant stake in Imagine Dragons' music catalog for a reported sum of $100 million. This deal, one of the largest music rights transactions in recent history, granted Concord control over the band's publishing and recording royalties.
The types of music rights involved in this transaction include:
- Publishing rights: Control over the licensing of musical compositions and the collection of associated royalties.
- Recording rights: Control over the distribution and licensing of recorded music and the collection of associated royalties.
Who owns the right to music in this context is Concord Music, a leading independent music company. Concord's acquisition of Imagine Dragons' music rights expanded their catalog, which already included acts like Vince Gill, Neil Young, and Clarence Avant.
The music rights societies involved in this deal include ASCAP (American Society of Composers, Authors and Publishers) and BMI (Broadcast Music, Inc.), which collect and distribute royalties for musical compositions and public performances.
The what are music rights question can be answered by stating that music rights refer to the legal ownership and control of various aspects of a musical composition or recording. These rights can be bought, sold, and licensed, generating revenue for artists, publishers, and record labels.
How do music rights work in practice? In the case of Imagine Dragons, their music catalog was a valuable asset that attracted the attention of Concord Music. The acquisition granted Concord the ability to collect and control royalties from various sources, including broadcasts, digital streams, and synchronization licenses.
For more information on music rights and related transactions, check out the following resources: