Sting is the latest musician raising money by selling his publishing catalogue, but in his case he’s sold it to a traditional music rightsholder rather than one of the new breed of music-rights investment companies. Universal Music Publishing Group (UMPG) bagged the deal, which includes his songwriting back catalogue of solo works, as well as his songs for The Police.
The deal neatens things up for Sting in another way: it brings his publishing catalogue under the same roof as his recordings catalogue, which lives with Universal Music Group. As is customary with such deals, UMPG did not say how much it paid for the catalogue. But as is also customary with such deals, estimates were quickly floating about.
“The artist was said to be seeking around $350 million,” reported Variety. “The final acquisition fee reached north of $300 million,” added MBW. Fields of Gold indeed.
Photo credit: Eric Ryan Anderson
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