Keith Urban sells master recording catalog
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The list of Nashville hitmakers riding a wave of music catalog sales now includes another superstar: Keith Urban.
Urban sold his master recordings to Litmus Music, the music rights company announced Tuesday. The deal covers 10 albums and a greatest-hits compilation, according to a news release. Urban's catalog features two-dozen chart-topping radio hits, including fan-favorites "Somebody Like You," "Blue Ain't Your Color" and "Days Go By."
Buying Urban's music marks the first major deal with Litmus, which launched earlier this year. The company did not disclose a sale price.
Urban, a four-time Grammy Award winner, joins Kenny Chesney, Blake Shelton, Jason Aldean and others in a boom of multimillion-dollar catalog deals. Unlike some, Urban sold his master recording rights — potentially linking the new rightsholder directly to streaming and physical sales revenue.
The deal runs from Urban's 1999 self-titled major label debut to his 2020 album "The Speed Of Now Pt. 1." It may also include future releases, according to Litmus.
"As part of the deal Litmus will continue to collaborate in close partnership with Urban and his management team Borman Entertainment as Urban continues work in the studio finishing his next album, due in 2023," a news release said.
The sales frenzy began largely in late 2020, when artists, writers and producers nailed a figurative "For sale" sign in the gardens that grew some of the world's most beloved songs. Buyers showed up with historically deep pocketbooks, ready to spend tens of millions — or, in the case of Bruce Springsteen, reportedly upwards of half-a-billion dollars — for rights to songs they hope will deliver steady returns for decades to come.
A confluence of factors — including pandemic-impacted income, interest rates, tax incentives, aging careers and streaming growth — fueled the catalog-selling storm. Since late 2020, Bob Dylan, Stevie Nicks, Neil Young, the Red Hot Chili Peppers and Paul Simon have sold song rights to publishing companies and investment groups hungry for long-term returns via media placement and streaming spins.
More:Music Row is cashing in on the catalog sale boom
This article originally appeared on Nashville Tennessean: Keith Urban sells his catalog of country hits
