Red Hot Chili Peppers Follow Bob Dylan’s Footsteps And Sell Their Music Catalogue
The iconic rock band Red Hot Chili Peppers which was formed in Los Angeles in 1983, recently made it to the headlines of worldwide news after the rumors that they’re planning to sell their song catalog to Hipgnosis Songs who have already acquired the catalogs of numerous rock musicians.
As you may recall, back in December 2020, Bob Dylan had made it to the headlines of rock news after selling his entire song catalog to Universal Music Publishing for over $300 million as he cannot perform live anymore. Numerous rockstars such as David Crosby had supported his decision saying that they too have done the same thing as musicians are not valued as much as they were in the past.
In fact, Led Zeppelin founder Jimmy Page had asked streaming companies to re-evaluate the royalty rates that are paid to musicians whose music is played or viewed on the internet so as to end the unjust treatment of musicians. Recently, Red Hot Chili Peppers also joined this discussion after their decision to sell their song catalog to Hipgnosis Songs for more than $140 million.
The majority of the band’s songs were written by the band’s singer Anthony Kiedis, bassist Flea, guitarist John Frusciante, and drummer Chad Smith. Although Hipgnosis representatives and band members have not responded to the requests for a comment, it looks like the rumors are true, especially bearing in mind the catalog hunt of Hipgnosis.
Earlier this year, Hipgnosis Songs acquired half of Neil Young‘s song catalog, alongside Fleetwood Mac veteran Lindsey Buckingham’s and Shakira’s. In the past three years, the company has bought the song catalogs of world-famous artists such as Blondie, Barry Manilow, Pretenders frontwoman Chrissie Hynde, Timbaland, and many more.
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