December 29th, 2021
InsideHook reporter Bonnie Stiernberg spoke with David Chidekel about Bruce Springsteen selling his songwriting catalog and his masters to Sony in a monumental deal. Springsteen is just one example of musicians selling their publishing rights for record amounts of money. In the article, David details the factors that are playing a key role in musicians selling their catalogs including the rise of streaming revenues, blockchain technology, cryptocurrency, and NFTs.
When considering these factors, David notes that investors are recognizing the multitude of ways in which music can be distributed. David explains that, “They’re making a bet that if they get in now, the long tail’s not going to go down, it’s going to go up, at least to some extent, and then they’ll be able to sell their assets at some point to somebody else for much more than they paid for it. That’s the gamble.”
The full article can be found below.