Now also Neil Diamond. The singer-songwriter sells the rights to his songs and recordings to a large music company. The contract was awarded to Universal Music Group. UMG did not disclose the amount Diamond will receive for the deal in its press release.
Universal Music recently secured the rights to songs by the likes of Bob Dylan and Sting. $400 million is said to have flowed for Dylan's songs. Bruce Springsteen and David Bowie's estate executors also sold their song catalogs to music companies.
The deal between Neil Diamond and UMG not only includes the rights to all the songs the singer has written and released to date. The negotiated volume also includes over a hundred unreleased songs and an album that has not yet been released. Future recordings will also be included in the package.
Breakthrough with the Monkees
With around 100 million records sold, Neil Diamond is one of the most successful artists of all time. Diamond began his songwriting career in the early 1960s. He wrote the 1966 hit "I'm a Believer" for the Monkees. The New Yorker's own solo classics are "Sweet Caroline", "I Am… I Said" or "Forever in Blue Jeans". Other of his compositions only became hits through other performers, for example "Red Red Wine" by UB40.
It doesn't matter whether the songs are sung by Diamond himself or by other artists. Whenever they play anywhere, the Universal Music Group box office will now ring.
