David Crosby at the final Grammy ceremony in Los Angeles on January 26, 2020.MIKE BLAKE / Reuters
It is no longer a trickle: it is the flood.
The musicians, mostly veterans with a large and profitable catalog, are selling the rights to their songs to publicly traded conglomerates.
Bob Dylan, Neil Young, Shakira, the Beach Boys, Alice Cooper, Def Leppard, Stevie Nicks ... They have all already put their classics at the service of some managers who have paid the authors money to now run their own business.
In the case of David Crosby (Los Angeles, 79 years old) the figures have not been made public.
Dylan, for example, made about 247 million euros, according to an estimate by
The New York Times.
Songs are sold to the highest bidder
The company that acquired the songs is known, Iconic Artists Group, from Irving Azoff, a veteran (73 years) American businessman who has passed through important companies in the entertainment sector, such as Ticketmaster or Live Nation.
Crosby's catalog includes songs from his solo stage in addition to his time with The Byrds, the duo Crosby & Nash, the trio Crosby, Stills & Nash and the quartet Crosby, Stills, Nash & Young.
Or it is the same: all his classics.
A few months ago, Crosby announced that it was in the process of selling its catalog.
And he argued for two reasons: the impossibility of getting money by touring, since they have been suspended for a year due to the pandemic;
and the way of consuming music now, in
through platforms such as Spotify, which means a loss of income for the author, for the benefit of the record company.
"Given our current inability to work live, this arrangement is a blessing to me and my family and I believe these are the best people to do it," Crosby said in a statement.
"I have known David as a friend and have admired him as a great artist since our early days at Geffen," Azoff said in another statement.
And he added: “This is an incredible time to be involved with David and his tremendous catalog of music.
He is truly one of the most prolific songwriters and artists and I am honored that he has made Iconic the steward of a timeless musical legacy. "