Red Hot Chili Peppers‘ profession has not solely landed them a spot within the Rock and Roll Corridor of Fame, it is about to offer them a reasonably large payday as properly. Variety studies that the band is near a deal to promote their songwriting catalog to Hipgnosis Songs for upwards of $140 million.
The group is simply the most recent act to promote their catalog for giant bucks as Bob Dylan’s catalog not too long ago netted $300 million from Common Music Publishing and Stevie Nicks’ catalog was bought to Major Wave for $100 million.
This transfer shouldn’t be totally new within the music business. Although it was not too long ago revealed that Twisted Sister won a copyright case against Australian politician Clive Palmer, singer Dee Snider revealed that it was really Common Music that may be receiving the compensation as he bought his catalog in 2015 for “some huge cash.” One of many extra well-known acquisitions of a catalog got here within the ’80s when Michael Jackson bid a whopping $47.5 million, an enormous sum on the time, for the rights to the Beatles catalog.
The Chlii Peppers shaped in 1982 and have gone on to launch such large singles as “Below the Bridge,” “Dani California,” “Scar Tissue,” “Give It Away,” “Cannot Cease,” “Californication” and extra. The band has loved seven albums which have peaked contained in the High 10 of the Billboard 200 Album chart.
The group is currently working on a new album that can function their follow-up to 2016’s The Getaway. Will probably be their first new album since guitarist John Frusciante’s return to the band for his third stint with the group.