Red Hot Chili Peppers Expected to Net $140 Million for Catalog

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Red Hot Chili Peppers‘ profession has not solely landed them a spot within the Rock and Roll Hall of Fame, it is about to supply them a reasonably large payday as properly. Variety stories that the band is near a deal to promote their songwriting catalog to Hipgnosis Songs for upwards of $140 million.

The group is simply the newest act to promote their catalog for large bucks as Bob Dylan’s catalog lately netted $300 million from Universal Music Publishing and Stevie Nicks’ catalog was offered to Primary Wave for $100 million.

This transfer is just not fully new within the music business. Though it was lately revealed that Twisted Sister won a copyright case against Australian politician Clive Palmer, singer Dee Snider revealed that it was truly Universal Music that may be receiving the compensation as he offered his catalog in 2015 for “a lot of money.” One of the extra well-known acquisitions of a catalog got here within the ’80s when Michael Jackson bid a whopping $47.5 million, an enormous sum on the time, for the rights to the Beatles catalog.

The Chlii Peppers fashioned in 1982 and have gone on to launch such large singles as “Under the Bridge,” “Dani California,” “Scar Tissue,” “Give It Away,” “Can’t Stop,” “Californication” and extra. The band has loved seven albums which have peaked contained in the Top 10 of the Billboard 200 Album chart.

The group is currently working on a new album that can function their follow-up to 2016’s The Getaway. It might be their first new album since guitarist John Frusciante’s return to the band for his third stint with the group.

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