Home Topics Business Irving Azoff acquires the rights to Beach Boys for a $ 100...

Irving Azoff acquires the rights to Beach Boys for a $ 100 million deal

Irving Azoff’s Iconic Artists Group has acquired a controlling interest in the Beach Boys’ intellectual property, including the band’s sound recordings, brand, select musical compositions and memorabilia.

advertising

According to a press release, the Beach Boys and their heirs will retain an interest in their fortunes “in order to participate in the upward trend that Iconic expects through active marketing and promotion of the band”.

However, much of the band’s evergreen catalog from the 1960s is still owned by Universal Music Group, which acquired Beach Boys recordings through the $ 1.9 billion buyout of EMI Music in 2012.

Universal’s Bruce Resnikoff told Rolling Stone, “We have the original recordings and the publishing, but our ability to get the best out of this band depends on our ability to work with the band. Iconic will represent the band in a way that I think will only add value to everyone. “

Today’s news follows a string of legacy rights acquisitions in the past few months by Hipgnosis Songs Fund (Neil Young and Lindsey Buckingham), Primary Wave (Stevie Nicks), Round Hill and Universal Music Group (Bob Dylan).

The price for the acquisition of Iconic Artists Beach Boys was not disclosed. However, Bloomberg reports that the total asset value is between $ 100 million and $ 200 million.

Azoff’s Iconic Artists Group is described as “a brand development and management company dedicated to building a portfolio of famous entertainment artists, creators and brands.”

“We acquire and / or manage brands with the aim of providing a permanent solution to protect, curate and develop their legacy for the future,” the Los Angeles-based company writes on its LinkedIn profile, which says it will be in 2018 Founded.

In a statement released today (Feb. 18), Iconic says there is “a void in the music business for legendary artists,” adding that it is “dedicated to the acquisition and active management of a portfolio of select artistic assets and the preservation of important heritage of these music icons ”.

Irving Azoff

“The Beach Boys are an American sweetheart. I am honored that the Beach Boys have entrusted Iconic to preserve and expand their legacy. “

Irving Azoff

Irving Azoff, Chairman and CEO of The Azoff Company, said, “The Beach Boys are an American treasure.

“I am honored that the Beach Boys have entrusted Iconic to preserve and expand their legacy.

“And I am thrilled that the Beach Boys will continue to invest in growing the incredible cultural brand that they have created.”

“I would like to thank Brian, Mike, Al, and the Carl Wilson family for believing in Iconic’s unique mission.”

Olivier Chastan, Iconic Artists Group

Olivier Chastan, Founder and CEO of Iconic Artists Group, added: “Ever since I heard the first guitar notes of Wouldn’t It Be Nice as a teenager, the Beach Boys have been one of the permanent soundtracks of my musical life.

“To be entrusted as stewards of this incredible art and heritage is both humbling and exciting.

“I would like to thank Brian, Mike, Al, and the Carl Wilson family for believing in Iconic’s unique mission.”

“With The Beach Boys’ 60th anniversary in mind, we wanted a partner who would help expand the possibilities for our brand while preserving our tradition as a band whose music exceeds the test of time.”

The Beach Boys

In a joint statement, the Carl Wilson, Brian Wilson, Mike Love and Al Jardine estate said: “The Beach Boys and our songs have been one of the great joys of our lives.

“For more than half a century, generations of fans from all over the world have come together to celebrate our music, to dance and sing to the songs we have loved and performed for decades.

“With The Beach Boys’ 60th anniversary in mind, we wanted a partner who would help expand the possibilities for our brand while preserving our tradition as a band whose music exceeds the test of time.

“We are confident that Irving and Iconic are ideal partners and that the Beach Boys’ continuing legacy is in the best possible hands.

“We are very proud of what we have achieved as The Beach Boys and how our songs continue to be received by our fans.”Music business worldwide

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest articles

Unser Reiseführer für Capri: Wo man auf Camilles Lieblingsinsel essen, übernachten und schwimmen kann

Haben Sie einen Spirit-Urlaubsort? Dieser Ort, mit dem Sie eine tiefe Verbindung spüren, und selbst wenn Sie Jahre verbringen, ohne ihn zu betreten,...

Asian stocks extend losses set on worst month since March 2020

© Reuters. FILE PHOTO: Visitors look at an electronic listing board at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, October 1, 2018....

Forbes Top 10 Speaker David Meltzer: Tips on Being an Entrepreneur

David Christopher Lee speaks with Forbes Top 10 Speaker, David Meltzer on how to be a successful entrepreneur. Article: ...