Image credit: Variety
The DJ and producer is one of the youngest artists to sell his music rights during the licensing gold rush.
Warner Music has agreed to purchase David Guetta’s recorded music catalogue, signing a deal worth more than $100 million, according to sources close to him. David is the latest musician to sell his music rights during what is being labeled a music licensing gold rush. He now joins artists such as Lady Gaga, Mick Fleetwood, David Crosby, and Bob Dylan (to name a few).
The 53-year-old French Dj and producer, who is known for hits such as ‘Titanium’ and ‘Play Hard’ is one of the younger artists to cash in.
Warner Music will acquire Guetta’s whole catalogue that spreads two decades. The deal is also rumoured to include an agreement of future recordings. Both parties are yet to confirm terms but there is a rumoured price of over $100 million.
Speaking on the matter David Guetta’s manager, Jean-Charles Carré said: “A lot of people approached us to express interest in David’s catalogue.”
With Guetta adding: “working my extensive catalogue and continuing to build my career.”
There is a divide starting to appear between artists, those of which are happy to sell their licensing, and those that see it as a bad practice. Artists such as Taylor Swift are vehemently against it as her records were sold to financial buyers. This is due to the standard practice of artists ceding their copyrights to a label, she, unfortunately, had no control or rights over the music she created.
As the popularity of streaming increases as does the revenue generated, which grew for the sixth consecutive year in 2020, growing 7.4% to $21.6 billion, according to industry group IFPI. The paid-for streaming has also given older songs a new lease of life, that labels, private equity groups, and specialty funds like Hipgnosis are keen to snap up.