In a recent undisclosed deal, the estate of legendary jazz and pop singer [Nat King Cole](https://en.wikipedia.org/wiki/Nat_King_ Cole) sold his music catalogue to Iconic Artists Group. The acquisition includes the rights to Cole's master recordings and songwriting catalogues, spanning from the 1940s to the 1960s.

According to Complete Music Update, the deal was brokered by Sony Music Publishing and Universal Music Group's Bravado. The terms of the agreement were not disclosed, but it is known that Iconic Artists Group will now represent the administration of Cole's music rights.

The sale of music catalogues has become a popular trend in the music industry, with artists and estates recognizing the financial potential of their back catalogues. Music Business Worldwide reports that the music catalog market has seen a surge in investment, with private equity firms and other investors pouring billions of dollars into acquiring music rights.

Music Rights Societies, such as ASCAP and BMI, play a crucial role in the collection and distribution of royalties for musical works, including those owned by artists and their estates. These organizations help ensure that artists and copyright owners are fairly compensated for the use of their music.

Understanding what are music rights and who owns the right to music is essential for anyone involved in the music industry, whether as an artist, a label, or an investor. As the value of music catalogues continues to rise, these rights become increasingly important to protect and monetize.