In a recent music rights deal, Scottish singer-songwriter KT Tunstall sold 50% of her music catalogue to Primary Wave Music Publishing. The financial details of the agreement were not disclosed.
Tunstall, known for hits like "Black Horse and the Cherry Tree" and "Suddenly I See," joins a growing list of artists who have sold their music catalogues to companies in the last few years. This trend has been driven by the increasing value of music streaming and the potential for significant financial gains.
Music catalogues consist of various types of rights, including publishing, recording, and synch rights. These rights allow the owner to earn royalties from the use of the music in various ways, such as broadcasts, streams, and synchronizations in films, TV shows, and advertisements.
Music rights societies, like ASCAP, BMI, and SESAC, help administer and collect royalties for these uses. They represent the copyright owners of musical works and license the use of their songs to various entities, such as broadcasters, streaming services, and advertisers.
The ownership of music rights can be complex, as it can involve multiple parties, such as record labels, publishers, and artists. In the case of Tunstall, she had previously signed publishing deals with Sony/ATV Music Publishing and Warner/Chappell Music. The sale to Primary Wave likely involved the transfer of some or all of these rights.
Primary Wave, a leading independent music publishing company, has been active in acquiring music catalogues from artists such as Quincy Jones, Smokey Robinson, and the estate of Prince. The company's strategy is to leverage its extensive network and expertise to maximize the value of these catalogues through various revenue streams.
For Tunstall, the sale of her music catalogue could provide a significant financial boost, especially as she continues to release new music and tour. It also allows her to focus on her creative work, while the administrative and business aspects of her music are handled by Primary Wave.
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