Pink Floyd royalty rights for sale

Iconic band Pink Floyd is seeking to cash in big on their song royalties, according to Sky News business reporter Edward Boyd. “The band is the latest seeking to cash in on their song royalties, Bloomberg reports it could get as much as $US500 million,” he said. Mr Boyd said there would be a number of potential buyers including all the major labels and private equity as well but there are “sticking points” to the sale. “The first is that as interest rates rise, the value of any income-driven portfolio - including a music catalogue - falls no matter how iconic that catalogue is,” he said. “The other problem is the band itself and the furious legal rows it has had with, especially, its former bass player Roger Waters.” Mr Boyd said other high-profile artists had sold their catalogues for big money too as Bruce Springsteen got $US550 million for his and Bob Dylan got at least $US350 million for two sales of his work. “As Pink Floyd would say: shine on you crazy diamond,” he said.

from Lifestyle | Latest Health, Living & Wellness News | — Australia’s leading news site
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