Ziggy Golddust! David Bowie’s estate considers selling singer’s back catalogue for estimated £150million
One of his classic songs is called The Man Who Sold The World – and now David Bowie’s estate is considering selling his songwriting catalogue for a reported sum of £150million.
Advanced talks are said to have taken place for a deal that would include the rights to songs such as Life On Mars and Ashes To Ashes.
The potential deal, which could be announced in the coming weeks according to the Financial Times, would span decades of a career that began in 1967.
Bowie’s career lasted from 1967 until his death in 2016 with a steady stream of hits all the way through the years
Works from the Brixton singer’s 50-year career will be available to the company which buys his back catalogue
Bowie’s works would be sold to a private company who would own the rights to license the songs for film and TV usage
Bowie’s catalogue is predicted to continue to generate revenue for years because the music is streamed, played on the radio and used in films and advertisements.
Songwriting collections of popular musicians have become high-value assets, with Neil Young, Bob Dylan and Fleetwood Mac’s Stevie Nicks all having sold their catalogues for nine-figure sums in the past year.
It is not known which firms are bidding for Bowie.
Bowie’s eclectic fashion taste and ability to push boundaries made him an icon in music
The deal comes after Bowie’s second wife Iman signed a long-term licensing deal with Warner Music last month
Bowie died of cancer in 2016 but not before releasing a final album titled Lazarus which he produced when facing his own mortality
However, UK company Hipgnosis Songs Fund is keen to invest in work by classic songwriters.
Last year it spent £720million buying 84 catalogues.
Hipgnosis founder Merck Mercuriadis, 58, said: ‘Great, proven songs have predictable, reliable income. It is better than gold or oil.’
A deal for the rights of Bowie, who died of cancer in 2016, would follow a long-term licensing agreement struck between his estate, which was left to his second wife Iman and two children, and Warner Music last month.