Mick Fleetwood has sold his share of Fleetwood Mac’s royalties to BMG, it has been announced following Stevie Nicks and Lindsey Buckingham’s footsteps.
The label has acquired the musician’s outright royalty interest in over 300 of the band’s recordings across all of their albums, except for their first two LPs – 1968’s self-titled album and ‘Mr. Wonderful’. (NME)
It has not been disclosed how much Fleetwood sold his share for, but the musician described the deal as “a wonderfully inspiring marriage between two creative partners that understand all aspects of the business”.
Foremost, BMG understands the artistry and puts the artist first,” he continued. “If this partnership is any indication of my past, and now future, working relationship with BMG, it’s that they truly ‘get it’.”
Justus Haerder, BMG’s EVP group strategy and M&A, added: “This acquisition highlights the value of timeless recordings in a streaming market which is increasingly benefiting established rather than newer artists. While recent acquisition activity in the music market has focused on music publishing, this is a pure recorded investment which will get the full benefit of streaming growth.