Over the last few months, many legendary artists — including
Bob Dylan
,
Neil Young
and
Stevie Nicks
— have made headlines for selling the rights to their songs for tens of millions of dollars. Now, the U.K. publication
Music Week
reports that one of the most prolific songwriters in today’s music has done the same.
Ryan Tedder
— who in addition to his songs for his band
OneRepublic
has also written or co-written songs recorded by
Beyonce
,
Adele
,
Kelly Clarkson
,
Jonas Brothers
,
Taylor Swift
,
Maroon 5
,
Shawn Mendes
,
Pink
and more — has sold a majority stake in his catalogue of songs to KKR, a global investment firm.
The deal includes nearly 500 songs, but Ryan will retain an interest in the music along with KKR. There’s no word on how much Ryan got for the sale.
“The music industry is undergoing an incredible period of transformation,” Ryan said in a statement. “Streaming and all forms of digital content are not only providing new avenues for how we consume music, but also for how artists can reach new audiences in a much more immersive way.”
He added that KKR “truly impressed upon me and my team their commitment to music as a true focus and passion moving forward.”
OneRepublic was supposed to release their new album
Human
last year but it got delayed due to the pandemic; it’s set to come out this year.
By Andrea Dresdale
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