Rod Stewart Sells His Music Catalog To Irving Azoff’s Iconic Artists Group For About $100M

The Wall Street Journal reports that legendary rock singer Rod Stewart sold his song collection to Irving Azoff’s Iconic Artists for around $100 million. The sale included rights to recorded music, his publishing catalog, and some name and likeness rights.

The agreement was made at the same time that Iconic revealed it has raised over $1 billion in fresh funding, mostly from HPS Investment Partners, for catalog investments in the future.

It is part of a second wave of huge song catalog investments, following the closing of Sony Music’s agreement to purchase a significant portion of the Michael Jackson catalog and the resurgence of rumors about a roughly $1 billion deal for the Queen collection.

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In recent years, the once-ferocious market has cooled off as borrowing rates have risen, prices have skyrocketed, and the number of top catalogs has decreased.

Although Stewart, 79, has written fewer songs than those artists—he is mostly recognized as a singer and performer—the contract is far smaller than that of Bob Dylan, Bruce Springsteen, or even Genesis, who received between $700 million and $300 million for a variety of rights.

But his six-decade archive of songs features singles and classics like “Maggie May,” “Stay With Me,” “You Wear It Well,” “You’re in My Heart,” “Do Ya Think I’m Sexy?” and more. It also includes his work with the Jeff Beck Group, the Faces, and ten No. 1 albums.

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