Big money is buying up big songs. Lots of them
Some of the best-known names in music are selling the rights to their entire catalogues of songs, netting tens and even hundreds of millions of dollars. Today, why so many artists are cashing in now, and why investors are betting billions on music.
The names include Bob Dylan, Paul Simon and Shakira.
Over the last year, dozens of music's biggest artists have cashed in the rights to their entire catalogues of songs, netting tens or hundred of millions of dollars.
This week, the Red Hot Chili Peppers became the latest, landing a reported $140 million US for the publishing rights to every song they've ever written.
Today on Front Burner, New York Times music industry reporter Ben Sisario explains why so many artists are selling off now, and why investors are betting billions on music.