Tina Turner Sells Music Catalog Rights To BMG For $ 50 Million



Related: Why Music Royalties Hit the Right Note for Investors

Tina turner

Nutbush, a native of Tennessee, Tina Turner left her marriage to Ike with only the rights to her name in 1976. Forty-five years later, the “Queen of Rock ‘n’ Roll” sold the management of her name, from his image and likeness. as well as its share of its musical rights to BMG, the world’s second largest record company, in a landmark deal.

The bulk of the deal is for 19 albums and compilations that have combined to sell over 100 million records and include hit hits such as What does love have to do with it?, Private dancer, City limits of Nutbush and Simply the best.

The value of the deal has not been disclosed, but media suggest it is worth $ 50 million. It follows Bob Dylan’s $ 300 million deal with Universal Music and Neil Young’s deal with investment and management firm Hipgnosis. This is part of a larger trend in which artists are leveraging the value of their music catalogs by considering their legacy and estate planning.

Turner, 81, had a net worth of $ 250 million before the deal. A good chunk of that is said to come from the sale of tickets to the 12 Grammy winner’s concert tours, which regularly filled football stadiums before hanging up on her touring heels ten years ago. His last Tina! The 50th anniversary tour grossed $ 134 million in North America and Europe over two years in 2008 and 2009, according to a trade publication. Poll star.

“Like any artist, protecting my life’s work, my musical heritage, is something personal. I have no doubts that with BMG and Warner Music my work is in professional and reliable hands, ”says Turner.

BMG is part of the media conglomerate Bertelsmann alongside publisher Penguin Random House and pan-European broadcaster RTL. The publisher already owns or represents the rights for the work of other artists such as Mick Jagger and Keith Richards, John Lennon, Ringo Starr, Roger Waters, Kurt Cobain, David Bowie, Scorpions, Iron Maiden and more.

Leonardo DiCaprio

Does lab-grown beef taste the same as traditional farmed cattle? Leonardo DiCaprio hopes enough people will think so. In September, the Oscar-winning actor and environmental activist invested an undisclosed sum in Aleph Farms and Mosa Meat, two of the top contenders in the emerging field of cultivated businesses.

Both companies have shown how beef can be grown directly from animal cells. Dutch brand Mosa Meat launched the world’s first cultivated burger in 2013, while Israeli company Aleph Farms grew steak and rib eye in a lab in 2018 and 2021.

“One of the most effective ways to fight the climate crisis is to transform our food system. Mosa Meat and Aleph Farms offer new ways to meet global demand for beef, while solving some of the most pressing problems in today’s industrial beef production. I am very happy to join them as an advisor and investor as they prepare to introduce grown beef to consumers, ”said DiCaprio.

One of the most effective ways to tackle the climate crisis is to transform our food system

Leonardo DiCaprio

Cultivated meat is expected to represent a $ 25 billion global industry by 2030, accounting for half a percent of the global meat supply, according to McKinsey forecasts. Start-ups in the field are targeting at least 15 different products, including chicken, beef, shrimp, duck, white fish, tuna, foie gras, lamb, kangaroo and sturgeon. Global production is expected to rise from 40% to 70% by 2050, according to some forecasts, as part of broader protein processing.

Cultivated beef production could reduce climate impact by 92%, reducing air pollution by 93%, while using 95% less land and 78% less water compared to beef production industrial, according to an independent life cycle analysis study.

DiCaprio has a portfolio of at least 14 different investment firms, with sustainable companies making up a significant percentage.

Other investments include alternative meat maker Beyond Meat, as well as lab-grown diamond maker Diamond Foundry and recycling technology developer Rubicon, sustainable meal prep company Love The Wild, and ethical finance startup. Aspiration.

Tech issues include Magnus, an app described as a Shazam for art and tech investment firm Struck Capital, based in his hometown of Los Angeles. the wolf of Wall Street star has also pledged $ 43 million to conservation in the Galapagos Islands through his charity Re: wild.

Daniel craig

“You can imagine why I came back to play,” James Bond says in No time to die. In the case of actor Daniel Craig, a $ 25 million paycheck could have something to do with it. Not counting the final post-pandemic box office record bonuses, the British actor is said to have earned a total of $ 85.4 million from his five outings as the world’s most famous fictional spy, according to Celebrity Net. Worth.

Should the film continue to match Fall from the skyOver $ 1 billion in box office revenue, the website speculates that Craig could take in an additional $ 25 million to $ 50 million, depending on the earnings bonus he negotiated. That could take his cumulative salary as a James Bond to $ 110 million over 16 years.

By comparison, Pierce Brosnan, the actor who previously played Bond, made $ 41.4 million across four films – or $ 65 million adjusted for inflation.

Craig is currently estimated at $ 160 million.

In February, the actor was among a number of celebrities to invest in tech wellness device company Therabody, alongside Jay-Z, Kevin Hart, Karlie Kloss, Cindy Crawford and Rande Gerber, Maria Sharapova, Justin Timberlake and Marcus Rashford.

Craig made headlines in August when he said he planned to spend or give away his entire fortune while he was alive, rather than leaving it to his two daughters and teenage stepson.

“Isn’t there a saying that if you die rich you have failed? I think Andrew Carnegie donated what in today’s money would be around $ 11 billion which shows how rich he was because I bet he kept some of that as well. “, did he declare. Candis magazine at the time, referring to the Scottish-born American industrialist who was one of the richest men in history.

“But I don’t want to leave big sums for the next generation. I think the legacy is quite unpleasant. My philosophy is to get rid of it or give it away before you go.

Amitabh Bachchan

Bollywood superstar Amitabh Bachchan is the new brand ambassador for Indian cryptocurrency exchange CoinDCX, the company announced this week. The veteran actor will be the face of a campaign that seeks to popularize cryptocurrencies in India.

“Being a crypto investor himself and having started his own NFT [non-fungible token] Recently, Amitabh Bachchan is very familiar with the crypto space, ”said Sumit Gupta, co-founder and CEO of CoinDCX.

“His knowledge will prove invaluable in building trust and credibility with new users. We are certain that its association with CoinDCX will help bring greater visibility to the crypto world and develop strong brand recall for us. “

The exchange recently raised $ 90 million in a Series C funding round led by the B Capital group of Facebook co-founder Eduardo Saverin. The subsequent valuation of $ 1.1 billion makes it India’s first crypto unicorn.

Being a crypto investor himself and having recently launched his own NFT, Amitabh Bachchan is familiar with the crypto space.

Sumit Gupta, Co-Founder and Managing Director of CoinDCX

In September, Bachchan announced that it would create non-fungible tokens (NFTs) for a new Indian platform, Beyondlife.club. The works will be available from November at what’s known as the country’s first rare NFT auction and will include poetry set to music, original autographed posters and other undisclosed giveaways. Throughout the month of October, fans are encouraged to suggest NFT ideas that Bachhan will work on. The website does not say whether the designers will receive a share of the eventual sales.

The actor, now 78, founded the Amitabh Bachchan company in the mid-1990s to produce films. The company went into receivership within a few years and Bachchan faced the specter of losing his home, Prateeksha, in Mumbai’s Juhu area, to his creditors.

Bachchan is now estimated to have a net worth of $ 400 million.

Update: October 10, 2021 5:00 a.m.



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