Pink Floyd have become the latest band to net a lump-sum mega deal, netting £400 million for their back catalogue, neighbouring rights, band name and likeness according to The Financial Times.
Deals such as these effectively see the band involved washing their hands of all their previous hard work in exchange for easy money. Rather than continue to earn what could be considerable sums from being part of the management of their portfolios – that’s taking money from Spotify, earning from the use of their music in movies, netting cash from cover versions and more – back catalogue sales see bands give away all their future earnings in exchange for cash up front, live and direct, and in the bank today.
