Country music star Keith Urban has reportedly sold his master recordings catalog to Litmus Music, according to Music Business Worldwide. The financial details of the deal have not been disclosed.

Urban's master recordings span over two decades of his successful music career. This sale comes as part of a growing trend of artists selling their catalogs to investors, capitalizing on the increasing demand for music rights.

Music rights, including master recordings, are a valuable asset in the music industry. What are music rights? They grant the owner the exclusive right to reproduce, distribute, and publicly perform their musical compositions and recordings.

The ownership of music rights can be complex. In the case of master recordings, record labels often initially own them, but artists can regain control through various means, such as buybacks or sales.

Music rights societies like ASCAP, BMI, and SESAC collect and distribute royalties for the use of musical compositions. However, master recording royalties are typically paid directly to the record labels or artists, depending on the terms of their contracts.

The sale of Urban's master recordings catalog to Litmus Music marks another significant investment in music rights. The exact financial terms of the deal have not been revealed, but it is reportedly backed by $500 million.

For more information on music rights and the music industry, visit Music Business Worldwide.