Rod Stewart sells his catalog for $100 million. Businessman Irving Azoff's company Iconic Artists Group has acquired the rights to the British rocker's catalog, as well as certain rights to his name and image.
In recent years, music rights have become a thriving market after a wave of sales that allowed artists such as Bob Dylan, Bruce Springsteen, and Neil Young to make money from their catalogs. Owners of the publishing rights to a song receive financial compensation for each broadcast, album sale or use in advertising and films.