Sting sells songwriting catalogue to Universal Music Group

NEW YORK • British singer Sting has sold his songwriting catalogue - including hits with rock band The Police, such as Every Breath You Take and Every Little Thing She Does Is Magic; and solo work such as If You Love Somebody Set Them Free - to Universal Music Group, in music's latest blockbuster catalogue deal.

The transaction, announced on Thursday by Universal's music publishing division, Universal Music Publishing Group, covers the 70-year-old's entire output as a songwriter. Financial terms were not disclosed, but the deal is estimated to be worth around US$300 million (S$403 million).

Over the past couple of years, major music conglomerates and Wall Street investors have poured billions of dollars into music deals, driven by the growth of streaming, low interest rates and old-fashioned competition.

In December, Sony purchased Bruce Springsteen's entire catalogue - covering both his songwriting and recorded music, which have separate copyrights - for around US$550 million.

Bob Dylan, in separate deals, sold his songwriting to Universal for more than US$300 million and his recordings to Sony for an estimated US$150 million to US$200 million. Paul Simon, Tina Turner, Motley Crue, Stevie Nicks and Neil Young have all struck deals in the eight and nine figures.

Sting's deal covers both the copyrights for his songs and his royalties as a songwriter, which means that Universal would stand to receive all future music publishing income from his work.

NYTIMES