Justin Bieber just sold his rights to his music. What does that mean? What can he do? And what can’t he do? Why do people want to purchase that?
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It’s like selling the rights to a book or a patent.
It allows the person that bought it to claim (financially speaking) that they are the creator of the music and they can benefit from all money making opportunities.
Money. When something doesn’t make sense it’s usually just because of the money.
Think of it like selling your TV. You no longer get to pick what is played, who can use it, and when you play it.
When anyone pays for the use of a song (film soundtrack, commercial, download, etc), the money goes to whomever owns the rights. Until recently, Bruce Springsteen owned all of his own rights and was making money a little bit at a time as songs were played on radio, streaming services, etc. Then he sold the rights to everything for about $500 million. He’s in his early 70s now, so even if he lived another 25 years it would be unlikely he’d be able to make that much money from his music going forward, so the advantage for him is clear. What’s not so clear is how Sony (the buyer) plans to make that money back. They paid a similar amount for Dylan’s catalog. They’ve spent nearly 2 billion dollars on music rights in the past two years, so stand by for an onslaught of ads for Born To Run Sneakers and Times They Are A-Changin’ Diapers.
You have sold all future revenue from all your music. And future income from adverts, radio, TV or bands covering your music etc. Will not be yours.
Jistin beaver whager his name? Just told for 200m, he gets the cash up front and the company who bought it will receive a return on investment over the next however many years.
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