Financial terms of neither have been disclosed.
Nancy Wilson of Heart and David Coverdale of Whitesnake are the latest rockers to sell their catalogs. Round Hill Music has acquired a significant portion of the lead artist’s royalties and entered into a long-term agreement to administer neighboring rights revenue from the catalog Wilson, acclaimed singer, songwriter and guitarist of the Rock And Roll inducted band Heart Roll Hall Of Fame.
Major highlights of the acquisition include a significant portion of the rights to Heart, which has sold over 35 million records worldwide and has a total of four Grammy nominations to date. The catalog includes the No. 1 hit “These Dreams” which has been certified five times platinum. Other classic tracks from the catalog include “Barracuda”, “Magic Man”, “Alone” and “Crazy On You”.
The acquisition of Round Hill Music includes a significant portion of Wilson’s lead artist royalties and administration rights to neighboring rights revenue from Nancy Wilson.
The catalog is heavily exposed to streaming, accounting for 35% of the revenue mix, with the balance comprised of 2% physical content, 7% download, 13% sync, and 4% other. Revenue from neighboring rights represents 39% of catalog revenue. In terms of geographic exposure, 61% of revenues come from the United States, while the rest comes from other countries.
“Barracuda”, “Alone”, “Crazy On You”, “Magic Man” and “These Dreams” are among Wilson’s best songs. All figures are based on catalog royalty statements for calendar years 2017-2020. Financial terms of his deal were not disclosed.
Round Hill acquired music publishing, master rights and master rights royalties for Coverdale, which includes songs by Whitesnake and a mid-1970s stint with Deep Purple. The deal will see Round Hill oversee the revenue generated from the catalog’s performing rights.
“Burn” and “Stormbringer” by Deep Purple as well as “Here I Go Again” by Whitesnake, “Is This Love”, “Still of the Night” and “Slow an’ Easy” are part of the agreement which is estimated to $35 million, per Billboard.
“I am thrilled beyond words to happily announce that my existing catalog of works, both songs and master recordings, which I have been involved in creating for over 50 years, is now between right hands with the right people at Round Hill,” Coverdale said. said in a statement. “I look forward to working with [CEO] Josh Gruss and all at Round Hill for ensuring the legacy of my existing works for future generations to enjoy.
These are the latest of a growing number of musicians selling portions or all of their catalogs. Paul Rodgers, America, John Legend, David Bowie, ZZ Top, Bruce Springsteen, Motley Crue, members of Fleetwood Mac, Linda Ronstadt, The Beach Boys, Neil Young, Bob Dylan and others have struck multi-million dollar deals dollars.