British singer-songwriter Rod Stewart has sold his music rights to Iconic Artists Group in a deal worth almost $100 million, the Wall Street Journal first reported Thursday, making him the latest artist to cash in on his catalog and join a company that also owns assets of Cher, Graham Nash, Nat King Cole, Dean Martin and Linda Ronstadt, among others.
Pianist Jools Holland and musician Sir Rod Stewart perform on "The Tonight Show" Tuesday, Feb. 6, ... [+]
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Stewart sold his publishing catalog, recorded music and some name and likeness rights to the company, which is owned by former Ticketmaster CEO Irving Azoff and recently raised $1 billion to continue acquiring big-name music rights, the Journal reported.
Stewart, 79, is currently on a world tour and is expected to release his 32nd album later this month.
With the hefty price tag, Stewart’s music is valued in line with the catalogs of Jason Aldean, who inked a $100 million deal with Spirit Music in 2022; David Guetta, who sold his to Warner Music in 2021; Justin Timberlake (Hipgnosis Songs Capital), Imagine Dragons (Concord Music Publishing) and Calvin Harris (Vine Investments).