Canadian singer-songwriter Sarah McLachlan has sold a majority stake in her music catalog to Primary Wave Music Publishing, according to a report by Variety. The financial details of the deal were not disclosed.
McLachlan, known for hits like "I Will Remember You" and "Angel," is the latest artist to join the growing trend of musicians selling their music catalogs for upfront cash. The deal includes her publishing rights and recordings, which span over three decades of her career.
Primary Wave, a leading independent music publishing and production company, has been actively acquiring music catalogs from various artists. Some of their recent acquisitions include those of Smokey Robinson, Quincy Jones, and Tina Turner.
The sale of music catalogs has become an attractive investment option for both artists and companies. Music catalogs provide a steady stream of income through royalties, which can be particularly appealing to artists looking for financial security.
Music catalogs consist of various types of rights, including publishing rights, master recording rights, and synchronization rights. These rights can be administered by music rights societies such as ASCAP, BMI, and SESAC.
For more information on music catalog sales and the role of music rights societies, check out these resources:
- Music Business Worldwide: The Rise of the Music Catalog as an Asset Class
- ASCAP: Understanding Music Publishing and Royalties
- BMI: How Music Royalties Work
Source: Variety - Sarah McLachlan Sells Music Catalog to Primary Wave