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The Beach Boys sold the rights to their intellectual property, becoming the last artist to transfer their copyright to another party.
In recent months, Bob Dylan, Neil Young, Stevie Nicks and Lindsey Buckingham have all sold the rights to their back catalogs.
The Beach Boys have now sold the rights to their entire brand to the iconic artist group of music industry veteran Irving Azoff. How much Azoff paid as part of the deal has not been made public yet, but in return he now owns the group’s master recordings, the rights to the Beach Boys name, their likenesses, part of their publishing rights and all memories.
As part of the deal, the group will still have an interest in its assets, but Iconic has the power in its business decisions.
The CEO of the company, Olivier Chastan, said Rolling stone: “The Beach Boys, in a way, aren’t just a band. It is a lifestyle. It is a consumer brand. And they never really exploited that.
Speaking about what fans might expect to see the group involved in their IP post-sale, Chastan said Iconic is keen to explore technological avenues. “This includes virtual reality, augmented reality, 3D, CGI, natural language processing, etc.,” he said.
“This is probably the most interesting aspect for me of what will transform our business. In five years, I could text you and say, “At 2pm, let’s put our Oculus Rift glasses on and go see the Beach Boys record ‘Good Vibrations’ on Western Recorders.” “
He also suggested that the band could be digitally reproduced and aged, like in Martin Scorsese. Irish.
Meanwhile, Hipgnosis Sounds Fund has recently been involved in several transactions involving the sale of artist catalogs. In January, it was confirmed that the investment company had acquired 100% of the catalog from former Fleetwood guitarist Mac Lindsey Buckingham, as well as the royalties from global producers of Jimmy Iovine.
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