Songwriter and performer, John Legend, has sold his songwriting catalog for an undisclosed fee to BMG and KKR.
According to a US regulatory filing seen by Bloomberg, KKR and BMG have each purchased a 50% stake in Legend’s songwriting catalog for material written from late 2004 through to early 2021.
That period would include music from Legend’s acclaimed 2004 debut album, “Get Lifted,” through to hits like “All Of Me” (2013) – a global smash that has more than 1.6 billion plays on Spotify to date.
BMG has worked continuously with Legend since the company’s 2010 acquisition of Cherry Lane, Legend’s former music publisher.
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News of Legend’s sale of his catalog comes just a month after Bruce Springsteen sold his music rights to Sony Music Entertainment for a whopping $550 million.
The deal also surpassed Bob Dylan’s blockbuster $400 million sale of the rights to his work to Universal Music Group.
Legend, 43, is much younger than the 72-year-old Springsteen and the 80-year-old Dylan and is estimated to rake in between $50 million and $100 million annually from his businesses, according to Variety.
Legend has sold at least 10 million albums worldwide and garnered several honors, including 12 Grammy Awards, a Tony Award, a Golden Globe Award, and an Academy Award.
In addition to a successful music career, Legend has branched out into producing television shows for Netflix and ABC. He is also the owner of a Napa Valley wine brand.
Congratulations, John Legend! Get to the money!
