Country music legend Martina McBride has joined the growing list of artists selling their music catalogs for substantial sums. The financial details of the deal have not been disclosed, but it's known that Primary Wave Music Publishing acquired McBride's master royalties.
McBride's discography spans over three decades and includes 14 studio albums, selling more than 15 million records worldwide. Her hits like "Independence Day," "A Broken Wing," and "I'm Gonna Love You Through It" have become country classics.
The sale of music rights has become a popular trend among artists looking to secure their financial future. In this deal, McBride transferred ownership of her master recordings to Primary Wave, which now controls the revenue generated from streaming and other uses of her music.
Music rights consist of several types, including publishing rights (lyrics and compositions) and master rights (recordings). In this case, McBride sold her master rights, which means Primary Wave now owns the recordings and can profit from their exploitation.
Music rights societies like ASCAP, BMI, and SESAC collect and distribute royalties for songwriters and publishers. However, master rights are not governed by these organizations. Instead, artists can sell their master rights to various buyers, such as record labels, music publishers, or investment firms.
McBride's deal with Primary Wave is not an isolated case. In recent years, artists like Bob Dylan, Neil Young, and Stevie Nicks have also sold their music catalogs for substantial sums. These deals highlight the growing demand for music rights and the financial opportunities they present.
Sources: