ZZ Top sold its entire music catalog to the record label BMG and KKR, a global investment company, for approximately US$50 million, or approximately R$287 million.
The information comes from Variety , which explains that the purchase includes the band's catalog with all songs, their income from recorded royalties, as well as performance royalties. ZZ Top's discography began in 1971 and comprises a total of 15 albums. The band was inducted into the Rock and Roll Hall of Fame in 2004.
“This agreement is a testament to the success, enduring power, and continued musical relevance of ZZ Top, but also to the power of our partnership with KKR. This agreement deepens our vision of providing artists and songwriters not only with a financial outlet, but also with a vehicle committed to respecting and safeguarding their art,” said BMG CEO Hartwig Masuch in a statement.
The lineup featuring Billy Gibbons (guitar, vocals), Frank Beard (drums), and Dusty Hill (bass, keyboards, vocals) remained the same for over 50 years, until Hill passed away in July of this year at the age of 72. He was replaced for live performances by the group's longtime guitar technician, Elwood Francis . ZZ Top has a series of shows scheduled for February in the United States.
This type of negotiation involving copyright has been intensifying since last year and is proving to be an attractive option for veteran and renowned musicians who prefer large sums of money, while specialized groups professionally control all their publications.
