Why are all these companies buying up thousands of songs?

[This was my weekly column for GlobalNews.ca. – AC]

There those within the music industry — artists, especially — who believe technology has devalued music to the point where it’s worth almost nothing.

Royalties from the sales of things like compact discs have dropped to almost nothing while streaming pays a pittance of what physical music used to provide.

But a lucky few are making more money than they ever thought possible, thanks to a burgeoning gold rush where a couple of forward-looking companies are gobbling up massive amounts of intellectual property. They’re buying the rights to song catalogues.

Royalties from the sales of things like compact discs have dropped to almost nothing while streaming pays a pittance of what physical music used to provide.

But a lucky few are making more money than they ever thought possible, thanks to a burgeoning gold rush where a couple of forward-looking companies are gobbling up massive amounts of intellectual property. They’re buying the rights to song catalogues.

The sale price? A staggering US$100 million.

Keep reading.

Alan Cross

is an internationally known broadcaster, interviewer, writer, consultant, blogger and speaker. In his 30+ years in the music business, Alan has interviewed the biggest names in rock, from David Bowie and U2 to Pearl Jam and the Foo Fighters. He’s also known as a musicologist and documentarian through programs like The Ongoing History of New Music.

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