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London (AP) - After Bob Dylan, according to media reports, the Canadian singer-songwriter Neil Young has also sold part of his song rights.
The deal with the British investment fund Hipgnosis Songs includes 50 percent of the rights to 1180 songs that the 75-year-old Young composed over the course of his career, the British news agency PA and the BBC reported on Wednesday.
"Heart of Gold", "Rockin 'in the Free World" and "Cinnamon Girl" are among his most famous songs.
Details were not disclosed.
The fund was built up by Merck Mercuriadis, a former manager of Elton John and the Pet Shop Boys.
“I bought my first Neil Young album at the age of seven.
'Harvest' was my companion and I know every note, every word, every pause and silence very well.
Neil Young, or at least his music, has been my friend and constant since then », PA quoted from a statement by Mercuriadis.
Hipgnosis had recently announced the purchase of publishing rights from former Fleetwood Mac guitarist Lindsey Buckingham.
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Just a few weeks ago, the US singer-songwriter Bob Dylan sold the publishing rights to all of his songs to the world's largest music group Universal Music - and earned an estimated several hundred million dollars.
The package included more than 600 titles such as “Blowin 'in the Wind”, “Knockin' On Heaven's Door” or “The Times They Are A-Changin '”.
Publishing rights have become an extremely valuable asset in the music industry, particularly with the success of streaming services.
In the corona pandemic, they gained additional importance as a source of income, as the income from live performances was lost for musicians.
© dpa-infocom, dpa: 210106-99-921602 / 3
BBC report