Giorgio Moroder, the legendary Italian electronic music pioneer, sold a significant portion of his producer royalties to Iconoclast, a music investment firm. The exact price of the deal remains undisclosed (MBW Source).
Moroder, 79, is best known for his work with Donna Summer, producing hits like "Love to Love You Baby" and "I Feel Love," which are considered milestones in the history of electronic dance music. His production credits also include the soundtracks for the films "Midnight Express" and "Scarface," as well as songs for artists like Daft Punk and Kylie Minogue.
The sale of music royalties is a growing trend in the music industry, providing artists and songwriters with a lump sum payment in exchange for a percentage of their future earnings. This type of investment is often facilitated by music rights societies like BMI, ASCAP, and SESAC, which collect and distribute royalties for their members (BMI Info, ASCAP Info, SESAC Info).
The ownership of music rights can be complex, as it involves various stakeholders such as publishers, record labels, and performing artists. In Moroder's case, the sale of his producer royalties to Iconoclast grants the firm the right to collect and keep a percentage of the royalties generated from his productions.
This deal highlights the increasing interest of investors in music rights as an alternative asset class. With the growing popularity of streaming platforms and the continuous demand for music content, music royalties are becoming an attractive investment opportunity for those looking to diversify their portfolios.
For more information on music rights and investments, check out the following resources: