David Crosby has sold his entire music catalogue to Iconic Artists Group for an undisclosed sum.
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The deal includes the music and publishing rights to Crosby’s solo material, as well as his work with Crosby & Nash, CSN, CSNY and The Byrds.
“Given our current inability to work live, this deal is a blessing for me and my family, and I do believe these are the best people to do it with,” Crosby said in a statement.
Crosby had expressed interest in selling his catalogue in a tweet last December: “I can’t work… and streaming stole my record money.”
He added, “I have a family and a mortgage and I have to take care of them so it’s my only option.” Crosby also hinted that the other members of CSNY, including Neil Young, “feel the same”.
I am selling mine also …I can’t work …and streaming stole my record money …I have a family and a mortgage and I have to take care of them so it’s my only option ..I’m sure the others feel the same https://t.co/EXWHR2v6iq
— David Crosby (@thedavidcrosby) December 7, 2020
This deal is the latest in a string of recent publishing and rights acquisitions in the music industry.
In January this year, Young sold the rights to half of his catalogue for an estimated $150 million to Hipgnosis, the song management company founded by music exec Merck Mercuriadis and CHIC guitarist Nile Rodgers.
Bob Dylan also sold his 600-song catalogue in a deal estimated to be worth over $300 million.
Iconic Artists Group, which describes itself as a “brand development and management company” is headed by music mogul Irving Azoff. Recently, it had also acquired The Beach Boys’ song catalogue and a controlling interest in their intellectual property.
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