In a major music rights deal, Primary Wave has reportedly acquired a significant stake in the catalog of late R&B legend Luther Vandross. The financial details of the transaction were disclosed to be around $40 million.

According to Music Business Worldwide, the deal includes Vandross' master recordings and publishing rights. This acquisition marks another significant move by Primary Wave in the music rights market.

The company, known for its acquisitions of music catalogs, has previously acquired the catalogs of artists like Tom Petty, Smokey Robinson, and James Brown.

The acquisition of Vandross' catalog adds another iconic artist to Primary Wave's roster. Vandross, who passed away in 2005, is considered one of the greatest R&B singers of all time. His discography includes 16 studio albums, selling over 40 million records worldwide.

Music rights, including master recordings and publishing rights, have become a lucrative investment area in the music industry. Understanding the types of music rights and how they work is crucial for investors. Music Rights 101 is a great resource for learning more about music rights.

Music Rights Societies like ASCAP, BMI, and SESAC collect and distribute royalties for the use of copyrighted music. They play a crucial role in ensuring that artists and rightsholders are fairly compensated for the use of their music.

Who Owns the Right to Music? is an interesting read that delves deeper into the complexities of music rights ownership.