Rod Stewart has sold the interests in his publishing catalog and recorded music, along with some name and likeness rights, according to a report, to Iconic Artists Group for nearly $100 million. The deal spans Stewart’s 60-plus year career, including his solo albums along with his music as a member of Faces and the Jeff Beck Group.
Iconic Artists Group will oversee Stewart’s solo catalog of more than 30 albums, from his 1969 debut An Old Raincoat Won’t Ever Let You Down through The Tears of Hercules in 2021. Stewart has charted albums throughout six consecutive decades, including his 10 No. 1s. On February 23, Stewart will also release his 32nd studio album Swing Fever, a collaboration with Jools Holland.
The acquisition also encompasses Stewart’s long line of solo hits, including “”Maggie May,” “Downtown Train,” “Have I Told You Lately,” and “Forever Young,” among many more.
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“This year marks my 60th year in the music industry,” said Stewart in a statement. “The time is right, and I feel fortunate to have found partners in Irving and his team at Iconic that I can entrust with my life’s work and future musical legacy.”
Iconic Artists Group, owned by former Ticketmaster CEO Irving Azoff, reportedly raised more than $1 billion in new capital for future catalog investments led by the private markets investment firm HPS Investment Partners and its financial advisor Barron International Group.
“Irving and I are a couple of old-timers and I believe we have a mutual respect and admiration for each other,” added Stewart. “My life’s work is in safe hands with him.”
Before adding on Stewart, Iconic Artists Group had already acquired the catalogs of Cher, Nat King Cole, Dean Martin, the Beach Boys, Joe Cocker, David Crosby, Stephen Stills, and Linda Ronstadt.
In a statement chairman and CEO of Iconic Artists Group, Azoff added, “We are thrilled to welcome one of the most celebrated singer-songwriters of our time, Rod Stewart, to the Iconic family. Our new partnership with HPS provides us with the resources and flexibility to make blockbuster signings like this one and to continue the success of our legendary artists and their legacies.”
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Currently on a world tour with Holland, Stewart will wrap up his 13-year The Hits residency at the Colosseum at Caesars Palace in Las Vegas, Nevada with a 200th show on August 7.
Photo: Lisa Maree Williams/Getty Images
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