The Hollies, the iconic British band known for hits like "He Ain't Heavy, He's My Brother" and "Bus Stop," have sold their back catalogue of recordings to BMG. The financial details of the deal were not disclosed.
According to Music Week, BMG will now administer and exploit the band's recorded music catalog, which includes over 30 UK Top 40 singles and 19 Top 10 hits.
The Hollies' back catalogue spans from the late 1960s to the early 1980s. The band's music has been a staple in the music industry for decades, and their recordings continue to be popular.
Music Business Worldwide reports that the deal includes the band's recordings from their time with labels like EMI, Decca, and Parlophone.
The sale of music catalogues has become a popular trend in the music industry in recent years. According to Billboard, sales of music catalogues reached a record $3.3 billion in 2020.
Music rights, including the ownership and exploitation of musical compositions and recordings, can be complex. BMI provides a detailed explanation of the different types of music rights and how they work. Music rights societies, such as ASCAP and BMI, help musicians and publishers manage their music rights and collect royalties.
For more information on music rights and deals, check out these resources: