ZZ Top have joined the growing list of legacy artists who cashed out in 2021. The band just sold its song catalog to BMG and KKR for a reported $50 million. It’s the latest in a string of big-money publishing deals in the last year – including artists like Stevie Nicks, Neil Young, Bob Dylan, and Bruce Springsteen – who sold his catalog for a whopping $500 million earlier this month.
Why are so many artists selling off their song catalogs? What does it mean for the music industry?