French DJ David Guetta sells back catalogue to Warner Music
It is the latest example of the booming music rights business.
French superstar DJ David Guetta has sold his back catalogue to Warner Music in a deal reportedly worth about 100 million dollars (£72 million).
Guetta, a producer whose songs include Titanium, When Loves Takes Over and Memories, also signed over his future recordings in the deal, Warner Music said.
Reports in the US said the agreement earned Guetta roughly a nine-figure sum.
It is the latest high-profile deal in the music industry, after stars including Bob Dylan and Paul Simon sold their back catalogues in lucrative agreements.
Guetta, 53, said: “I’m super excited about the new music I’m working on. And even more excited that I have started to play all this new music live to my fans again and they are loving it.
“This is the right time to renew my creative partnership with my trusted team at Warner Music.
“This deal is about having the best people around me to ensure I can keep innovating with exciting new projects, while also working my extensive catalogue and continuing to build my career.”
Guetta has sold more than 50 million records around the world and amassed over 14 billion streams, according to Warner Music.
He has worked with the likes of Justin Bieber, Little Mix, Bruno Mars, Nicki Minaj and Rihanna, and has two Grammy Awards to his name.
Warner Music described him as “one of the defining influences in electronic music and dance culture since the beginning of the millennium”.
Guetta’s recent output has been prolific and he has unveiled eight new tracks in the first five months of 2021.
Max Lousada, CEO of Warner Recorded Music, said: “It’s rare for an artist to not only define a genre, but transform it.
“David has been doing that for over two decades – igniting worldwide audiences and influencing whole generations of talent.”
Guetta’s deal is the latest example of the booming music rights market.
In December, it was announced Bob Dylan had sold his back catalogue to Universal Music Group in a deal reportedly worth 300 million dollars (£215 million).
Neil Young sold half of his catalogue to music investment fund Hipgnosis Songs for an estimated 150 million dollars (£108 million) while Stevie Nicks sold a majority of her rights for a reported 100 million dollars (£72 million).
