Following the sale of Bob Dylan’s 600-song catalogue to Universal Music yesterday, folk icon David Crosby has now said he too is looking to sell his song catalogue.
Yesterday (7 December), Crosby responded to a Twitter follower asking if he would follow in Dylan’s footsteps and sell his catalogue. He said, “I am selling mine also… I can’t work… and streaming stole my record money.”
Whether or not the potential sale will involve Crosby’s own solo catalogue or the material of the entire group is still unknown.
Crosby added that his motivations to sell had to do with finances. “I have a family and a mortgage and I have to take care of them so it’s my only option,” he tweeted. “I’m sure the others 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
The 79-year-old musician’s suggestion that he “can’t work” seemingly refers to his inability to tour or perform live in 2020 due to the COVID-19 pandemic. This year, Crosby had planned a summer-long trek across the US with the Sky Trails Band.
This is not the first time Crosby has lashed out at music streaming services. In 2018, he tweeted, sarcastically, “Get your song played a million times and get less than $5. Seems fair.”
The recent boom in music catalogue sales has largely been tied to President-elect Joe Biden’s projected win at the 2020 US Elections. Biden’s tax plans, should they pass through the US legislature, will significantly raise capital gains tax – from 20 to 37 per cent – for songwriters whose catalogues sell upwards of $1 million, according to Reuters.
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