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Stock impact report

Britney Spears sells the rights to her music catalog [Los Angeles Times (CA)]

Sony Group Corporation American Depositary Shares (SONY) 
Now, the rights to those songs will belong to music publishing company Primary Wave after Spears reportedly signed a major new deal, according to NBC News . The outlet approximated the deal was for $200 million, and details of the sale were not disclosed. Primary Wave, which was founded 20 years ago with the acquisition of 50% interest and partnership in Kurt Cobain's music publishing catalog, also owns songs from the catalogs of music legends Bob Marley, Stevie Nicks and Whitney Houston, among others. Representatives for Primary Wave and Spears did not immediately respond to The Times' requests for comment. Music rights acquisitions have become increasingly popular investments in recent years as the recorded music industry has boomed with the advent of streaming. With access to sprawling libraries on Spotify and Apple Music, consumers are listening to albums and artist catalogs at higher rates, and older artists are more prone to popping back into the zeitgeist. Licensing for Show less Read more
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