Neil Diamond's $300M+ Music Catalogue Sale to Universal

Neil Diamond, the legendary singer-songwriter, sold his entire song catalog and master recordings to Universal Music Group (UMG) in a deal reportedly worth over $300 million 1. The deal, announced in January 2021, grants UMG the ownership of Diamond's music publishing and recording rights 2.

Diamond, who has written and recorded over 40 Top 40 hits 3, began his career in the late 1960s. His discography spans across various genres, including pop, rock, and country 4. The sale of his music rights to UMG marks another significant milestone in his illustrious career 5.

The sale of music catalogues and master recordings has become increasingly popular in the music industry, with artists such as Bob Dylan, Paul McCartney, and Beyoncé following suit 6. These transactions allow artists to secure substantial financial gains while retaining creative control 7.

Music rights consist of several types, including publishing rights, recording rights, and performance rights 8. Music rights societies, such as ASCAP, BMI, and SESAC, manage and collect royalties on behalf of songwriters and publishers 9.

Footnotes

  1. Music Business Worldwide: Neil Diamond Sells Complete Song Catalog and All Master Recordings to Universal

  2. Variety: Neil Diamond Sells His Music Catalog to Universal Music Group for Over $300 Million

  3. AllMusic: Neil Diamond

  4. Rolling Stone: Neil Diamond: His 20 Best Songs

  5. Billboard: Neil Diamond Sells His Music Catalog to Universal Music Group for Over $300 Million

  6. Forbes: Why Music Stars Are Selling Their Catalogs For Huge Sums

  7. Music Business Worldwide: The Pros and Cons of Selling Your Music Catalog

  8. Berklee Online: Understanding Music Rights: A Comprehensive Guide

  9. ASCAP: How ASCAP Works

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