David Bowie’s songbook acquired for $250M.
In a rapid frenzy to purchase music copyrights, Warner Music Group (WMG) has secured David Bowie’s songbook for about $250M in January 2022. The purchase establishes publishing rights to Bowie’s 26 studio albums. Catalogs from high-profile artists generate revenue for decades as consumers continue to stream songs played on the radio and used in films and advertisements. Investment firms and competitors to WMG are treating these music rights as credit-like assets, which are estimated to cause future catalogs to be more difficult to purchase.
Competition|New Activity|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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