Chris Willman Senior Music Writer and Chief Music CriticMusic publishing, a part of the industry that rarely raises its hand to be its hottest or most controversial subject, has recently been an uncharacteristic source of news headlines again and again, due to a seeming gold rush that has major artist-songwriters selling off their catalogs for huge figures.
As the chairman-CEO of Sony Music Publishing, Jon Platt naturally has a few thoughts about this crest of cashing in. And they’re mixed, even if he’s not about to wax gloomy about writers getting their due.“There’s no one particular answer to this — no one-size-fits-all answer, to be honest with you,” Platt said during a keynote Q&A at the annual Music Biz conference in Nashville Wednesday. “You have legacy songwriters who want to secure their future; you have newer songwriters who think they’re gonna write another catalog tomorrow, so they’re going to sell this one — and everything in-between. … Listen, any time that people think there’s value in the music business, that’s a good thing.
So I am excited about that piece of it. But I’m a little torn on some of it.” Platt continued, “The legacy songwriters, I think it’s fantastic for you to have the opportunity to make a choice of what you want to do.
For (younger) songwriters, I think you should give it long thought before you do it. No one is buying catalogs to lose money, and it’s a transaction, and you have to be comfortable with that.
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