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Music publishing sector booming with high-profile sales

Posted : 2021-01-17 15:19
Updated : 2021-01-17 15:19
Shakira performs during the halftime show of NFL Football Super Bowl LIV at Hard Rock Stadium, Miami, Florida, U.S, on Feb. 2, 2020. REUTERS-Yonhap
The pandemic has left the performance industry reeling but music publishing, a normally under-the-radar side of the business, is roaring thanks to a frenzy of high-profile music catalog sales.
The royalty streams of songwriting copyright portfolios can prove lucrative for the long haul, and increasingly are enticing investors even as other industries tank under the pandemic s weight.
In many cases, the transactions have come at staggering prices: Bob Dylan sold his full publishing catalog for a reported sum of $300 million to Universal Music Publishing Group, while Stevie Nicks of Fleetwood Mac sold a majority stake in her catalog reportedly for $100 million. ....

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Bob Seger remembers longtime bandmate Alto Reed, dead at 72: 'He was funky, could scat'

Bob Seger remembers longtime bandmate Alto Reed, dead at 72: ‘He was funky, could scat’
Updated Dec 30, 2020;
Posted Dec 30, 2020
Musician Alto Reed passed away on Wednesday, December 30, 2020 after a battle with colon cancer. (Photo by Chris Clark | MLive)
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Bob Seger is remembering his lifelong friend and bandmate, Alto Reed, who has passed away at the age of 72 after battling colon cancer. Reed, a Detroit native, was the saxophonist for the Silver Bullet Band for nearly 50 years.
“Under the light of the full moon and surrounded by family at home, our beautiful father passed gently on to the next realm,” the family said in a statement. “Our hearts are deeply broken by this enormous loss, but also filled with gratitude as we reflect on his legacy and how incredibly lucky we’ve been to get to call such a special guy, dad. He lead an extraordinary life, marked by passion, determination, and dreams come true; an action packed advent ....

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