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Aerosmith Cashing in On Catalog to Universal Music Group

FILE - In this April 8, 2014 file photo, Steven Tyler, left, and Joe Perry of Aerosmith perform at the Whisky A Go Go in Los Angeles. The organization that helps music professionals in need will honor Aerosmith as its 2020 person of the year. MusiCares announced Friday, Oct. 4, 2019 it will recognize the four-time Grammy-winning band for its philanthropic efforts and for its impact on American music over five decades. (Photo by John Shearer/Invision/AP, File)

Aerosmith has become the latest legendary rockers to cash in on their massive catalog of hits. The band has announced a ‘worldwide alliance’ with Universal Music Group. This deal will consolidate the group’s entire discography under one umbrella. UMG will also work with Aerosmith on future audio-visual projects. Financial terms of the deal were not made public. Recently, other  artists such as Stevie Nicks and Bob Dylan have recently sold off their catalogs for huge money.

Why are so many artists selling their song catalogs?

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