In recent times, it would seem that just about every artist of note is looking to cash in on their back catalogue. Pink Floyd appear to be the latest in talks to sell up to one of the publishing giants snapping them up.
Previously, Bruce Springsteen clocked around £375 million for his song list, prior to that Stevie Nicks sold the majority of her tracks for around £86 million, and Bob Dylan and Neil Young have also been involved in various deals of late.
In part, this is due to the fact that songs, in a very generalised sense, are diminishing in value owing to streaming and decreasing physical sales for older artists, thus, cashing for the grandkids or a third yacht seems to be fairly logical (albeit there is a multitude of other factors which you can read about here).
According to Bloomberg, Pink Floyd have recently entered talks to fetch a few hundred million for their back catalogue as “representatives for the band have reached out to potential buyers”.
Currently, the report states that they are still far away from any agreement. “The process began in the last few days, and it’s too early to know what the outcome will be,” the report claimed.
In the past, the process hasn’t taken all that long as publishing companies clearly have some top representatives pushing the deals through. So, it might not be too long before you hear ‘Wish You Were Here’ on a travel advert or ‘Comfortably Numb’ selling back pain relief.