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Paul Simon has sold his publishing rights to Sony Music Publishing, the company said on Wednesday – marking the latest successful catalog deal in the burgeoning field of music rights acquisition.
Sony has purchased its entire catalog collection, a spokesperson said, but declined to give financial details of the deal.
With this acquisition, Sony now owns one of the most famous song catalogs of the past 50 years, including classic titles like “The Boxer” by Simon and Garfunkel, “Mrs. Robinson ”, and the“ Sound of Silence ”as well as Simon’s solo works like“ Me and Julio Down By The Schoolyard ”and“ Graceland ”.
“Paul Simon is a once-in-a-lifetime masterful songwriter whose remarkable work has generated a lasting influence on our culture and consciousness,” Sony Music Publishing CEO John Platt said in a statement. “From Simon and Garfunkel’s standards like ‘Bridge Over Troubled Water’ to solo classics like ‘Graceland’, Paul Simon’s music resonates deeply as a cultural touchstone for people around the world. Performing his indelible songs is an incredible honor for Sony Music Publishing, so with immense pride I welcome Paul to our family. “
Rob Stinger, President of Sony Music Group added, “We are truly honored to now represent Paul Simon’s music publishing catalog. To be entrusted with their songs and recorded music is a privilege of the highest artistic level for the Sony Music Group in the world. “
Although Sony did not give financial details of the sale, the catalogs as a whole sold at record levels, in part because upstart companies like Hipgnosis Songs Fund and Primary Wave paid high multiples on the rights. edition in recent years. Catalog buyers hope to bolster song values by getting songs in movies, TV shows, and commercials while generating more feeds, while songwriters who sell take more upfront payment instead of taking one. risk on potential future royalty income.
Bob Dylan sold his catalog for nearly $ 400 million in his deal with Universal Music Publishing Group, sources say. Rolling stone, while Stevie Nicks would have taken $ 100 million in his edition sale with Primary Wave. Other leading legendary acts, including Neil Young and Lindsay Buckingham, sold their publishing rights this year, while Mick Fleetwood sold his recording rights to BMG.
The acquisition space is increasingly competitive as companies compete for the most prolific catalogs in music. BMG and investment firm KKR – which took a controlling stake in the publishing rights of One Republic singer Ryan Tedder this year – partnered last week to secure more music rights. Rolling stone they’re willing to spend $ 500 million on the right catalog.
“For good catalogs, yes, you’ve absolutely hit half a billion dollars,” KKR partner Nat Zilkha said recently of artist catalogs that are still available in the market. “And there are far fewer players who can write the $ 500 million check than there are who could write a $ 5 million check or a $ 10 million check.”
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