David Coverdale’s most financially successful songs were revealed as he sold his catalog, including Whitesnake and Deep Purple material, for an undisclosed sum.
He arranged a deal with Round Hill Music, saying it meant his legacy was in “exceptionally safe hands.” It’s the latest in a run of similar acquisitions, which one industry observer estimated involved over $5 billion changing hands over the past year.
Coverdale’s songs ranked by revenue are: “Here I Go Again,” “Crying in the Rain,” “Fool for Your Loving,” “Is This Love,” “Still of the Night,” “Slow An’ Easy,” “Burn” and “Stormbringer.” The top six are Whitesnake tracks while the last two are Deep Purple releases.
“The Board is pleased to provide RHM shareholders with access to David Coverdale’s own legendary catalog of hits as the frontman from one of best known rock bands of all time, who helped to define an era of music,” senior exec Trevor Bowen said. “We are delighted to be deploying capital into such high-quality acquisitions while continuing to evaluate further attractive opportunities.”
The multi-billion dollar figure was delivered by Music Business Worldwide, who reported: “[B]ased on confirmed prices and information from industry sources… at least $5.05 billion was spent on catalog and music rights acquisitions across the 60-plus big-money deals we reported on during last year.
Close to half of MBW’s estimated $5.05 billion total sum – some $2.33 billion – was spent on acquisitions of rights directly from artists, songwriters and/or their estates. And the pace (and price) of such deals is accelerating: In December alone… deals worth at least $720 million were struck for artist and songwriter catalog sales. At least $500 million of that… came from Bruce Springsteen’s confirmed sale… the first time the half-a-billion dollar mark has been crossed for the catalog of an individual artist.
Could there be a bigger individual artist catalog deal in 2022? And could the massive total amount spent on catalogs in 2021 be surpassed this year? There’s a good chance that it might.”
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Source: Ultimate Classic Rock