BMG and KKR, known Globally, declared that they had obtained the entire music pursuits of the American Rock Icon ZZ Top. This transaction indicates the latest significant music rights that struck both companies to join forces in the fast-growing music market.
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Bob Dylan sold his publishing catalog with around 600 songs to Universal Music Publishing Group for about $300-$400 Million in December 2020. At the same time, 80 percent of the rights of Fleetwood Mac, a singer and a songwriter Stevie Nicks, were sold to her songwriting catalog, which consists of hits like Landslide and Edge of Seventeen to a Primary Wave music publisher for $100 Million. Following last month’s reviews, the Universal Music Group had negotiated with Sting to purchase his music catalog for $250 Million while Warner Music Group was increasing $535 Million to buy David Bowie’s Music, as reported by the New York Post.
ZZ Top released 15 albums over 50 years together with a breakthrough in Business comprising of Tres HomBres, Degüello, El Loco, Eliminator, Afterburner, Recycler, and Antenna. The Trio of Billy Gibbons, Dusty Hill, and Frank Beard formed the ZZ Top in the late ’60s. This band was known for their peculiar long red beards. The deals are a part of well-established artists selling their songs to music labels. They are fueled by streaming, which gives additional profitable royalties as a customer group to services like Spotify and Apple Music. During the COVID-19 pandemic, the deal increased due to the lower interest rates, making it easier for the companies to buy significant assets, as reported by Ace Sparks.
ZZ top has secured certifications such as four Gold, three Platinum, two multiple Platinum, and one Diamond album on selling several albums worldwide. They are known for their distinctive look and unembarrassed blues-rock-inspired sound, among all others. The ZZ Top has recently released the documentary The Little Ol band from Texas, which acquired the nomination for the Best Music Film at the 2021 Grammy Awards.
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Sources: Ace Sparks, New York Post
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