Stevie Nicks Sells a Share of Her Publishing Rights for $100 Million

[Jondalar]

Stevie Nicks Sells a Share of Her Publishing Rights for $100 Million

Nicks joins a number of major artists who’ve sold their catalog rights to investors and talent management companies this year

Ethan Millman December 4, 2020 11:49AM ET
Stevie Nicks has sold a majority of her publishing catalog to publisher and talent management company Primary Wave, the company announced Friday, with the Fleetwood Mac star becoming one of the highest-profile artists to capitalize on the booming song publishing acquisition market to date.

Primary Wave didn’t share financial details of the sale, but The Wall Street Journal reported that Nicks sold an 80% stake in the catalog, valuing the deal at about $100 million. The deal includes several of Nicks’s biggest hits as a solo artist and member of Fleetwood Mac including “Landslide,” “Edge of Seventeen” and “Dreams,” the last of which returned the charts for the first time in 40 years after resurfacing on TikTok.

Primary Wave has previously purchased stakes in several prominent artist catalogs like Disturbed and Ray Charles.

“To say we’re excited to welcome the incredible Stevie Nicks to the Primary Wave family would be a dramatic understatement,” Primary Wave’s founder and CEO Larry Mestel said in a statement. “If Primary Wave were starting our company today, Stevie Nicks would be one of the shining pillars, a true legend among legends. She is a groundbreaking artist, and the longevity of her iconic career comes from writing songs, instantly recognizable and critically acclaimed, that stand the test of time.”

Along with the catalog purchase, Primary Wave also has access to Nicks’s name and likeness, and has established a partnership with the singer to allow her to sign new songwriters in a joint venture.

The songwriting acquisition game has grown exponentially in recent years, with companies like Primary Wave and Merck Mercuriadis’s Hipgnosis Songs Fund buying up catalogs at significantly higher multiples than the previous norm. Sources familiar with these deals have said they’ve seen purchases for as high as 30 times a catalog’s value.

These companies are taking hefty bets that they can make money by acquiring a smaller but selective catalog collection they can leverage through tv, movie and video game synch licensing as well as other copyright opportunities like merchandising.

As Mercuriadis, who recently acquired catalogs from artists like Jack Antonoff and Richie Sambora, previously told Rolling Stone: “We have 21, 22 people with 500 songs per person, versus the majors who have 20,000 per person. I want to actively manage these songs with the same responsibility that I manage artists. I hate the concept of publishing, I want to destroy that word and replace it with song management.”

Some insiders, however, expect the market could taper off under Joe Biden’s presidency, depending on what he does with capital gains legislation. Those taxes had been much lower under the Trump administration, providing more incentive for artists to sell their catalogs to face less taxes after the purchase. But these song-hungry companies won’t be going away — and in any case, may just have to pay even more to artists to keep their deals enticing.

https://www.rollingstone.com/pro/new...-wave-1098850/

[BombaySapphire3]

Well new album sales are a bust and she may never be able to mount another huge cash grab tour to equal all the past ones so a girl has to do something to keep herself in the style to which she has become accustomed.

[ryan4136]

She literally has nobody to leave this money too when she kicks the bucket. Why sell?

[BombaySapphire3]

Originally Posted by ryan4136

She literally has nobody to leave this money too when she kicks the bucket. Why sell?

She believes that she will live another 30 years..She wants to continue to live a fabulous rock star life .It was predictable.

[HomerMcvie]

Originally Posted by BombaySapphire3

She believes that she will live another 30 years..She wants to continue to live a fabulous rock star life .It was predictable.

$he really does think that.

$he's nuttier than a squirrel turd.

[David]

Some insiders, however, expect the market could taper off under Joe Biden’s presidency, depending on what he does with capital gains legislation. Those taxes had been much lower under the Trump administration, providing more incentive for artists to sell their catalogs to face less taxes after the purchase.

Typical Hollywood. Rail against the economic policies of 15 percent capital gains rates — and then scramble to take advantage of them before they’re a thing of the past.

But does this deal mean that computer games and TV commercials are going to use Stevie’s songs a lot more now? What does this deal actually do? It’s not entirely clear. And Stevie’s image?! Now belongs to someone else? This is weirder than Rappaccini’s Daughter, or Fräulein von Scuderi.

[michelej1]

Originally Posted by HomerMcvie

$he really does think that.

$he's nuttier than a squirrel turd.

All the women in her family live to that age. Why shouldn’t she?

[FM77]

Originally Posted by ryan4136

She literally has nobody to leave this money too when she kicks the bucket. Why sell?

That is not true.