John Legend Sells Music Catalog Dating Back To 2004
Grammy Award-winning artist John Legend has sold his entire music catalog after reportedly striking up a deal in Sept. 2021. DL Music IP LP, an affiliate of San Francisco-based KKR Credit Advisors, and BMG Rights Management each purchased a 50% stake in the catalog, according to a report from Bloomberg.
While the financial details of the deal have not been publicly disclosed, it has been confirmed that the singer-songwriter sold the copyrights to his music works from John Legend Music Inc. and his rights to receive royalties from any songs he wrote from Dec. 1, 2004, to Jan. 1, 2021, a Uniform Commercial Code financing statement filed Nov. 2021 states.
BMG and KKR first announced their music partnership in Mar. 2021 in an effort to “pursue recorded music, music publishing and other music rights acquisitions.”
“BMG and KKR will join forces to source individual transactions to acquire music catalogs, bringing together BMG’s deep industry knowledge and global capabilities in maximizing value for its artists with KKR’s vast network, resources and deep experience as an investor in market-leading music, digital, media and content businesses,” the official announcement reads.
Legend is one of only 15 individuals to have earned E.G.O.T. status with an Emmy for Outstanding Variety Special (Live) in 2018 for his role as executive producer in Jesus Christ Super Star Live In Concert, 10 Grammy wins, an Oscar at the 87th Academy Awards for Best Original Song for his song “Glory” in the film Selma and a Tony Award for Best Revival of a Play with his production Jitney.