David Crosby sells music catalogue to Iconic Artists Group
David Crosby has become the latest major artist to sell his music and catalogue, as he blamed the inability to perform live during the Covid-19 pandemic.
Irving Azoff’s Iconic Artists Group (IAG) bought Crosby’s recorded music and publishing rights to his entire music catalogue – including the works of the Byrds, Crosby & Nash, Crosby Stills and Nash, and Crosby Stills Nash and Young – for an undisclosed sum.
“Given our current inability to work live, this deal is a blessing for me and my family and I do believe these are the best people to do it with,” Crosby said in a press release.
He announced his intention to sell in December after stars such as Bob Dylan and Lindsey Buckingham did deals on their own catalogues. His former bandmate Neil Young followed suit in January.
Dylan’s sale of his complete song catalogue to Universal Music in December was reportedly worth more than $300m (£225m). Young sold 50% of his entire song catalogue to Merck Mercuriadis’s Hipgnosis fund in January.
Last month, IAG bought a controlling stake in the music catalogue of the Beach Boys, including their sound recordings, brand, select compositions and memorabilia, also for an undisclosed sum.
“If we could get paid for records and play live we would not be doing it. None of us,” Crosby said last December in response to criticism from one fan concerned that his iconic music would now be used for commercial endorsements.