MÖTLEY CRÜE Sells Catalog To BMG
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Global music company BMG has announced that it has acquired the entire recorded catalog of MÖTLEY CRÜE. Sources tell Variety the deal is valued at approximately $150 million, although other sources cited a significantly lower number.
The deal is BMG's largest single catalog acquisition since the company was founded in 2008.
The agreement includes the iconic band's entire recorded output spanning their 40-year career totaling nine studio albums from their 1981 debut "Too Fast For Love" through the latest release in 2008 "Saints Of Los Angeles", as well as several platinum-selling live albums and compilation sets.
It comes as the band are on a new high after Netflix biopic "The Dirt" converted a new generation of fans with an astonishing 92% score on Rotten Tomatoes for the "warts 'n' all" movie.
In a statement from the group, MÖTLEY CRÜE said: "It feels amazing to be collaborating with our new partners at BMG. Their extensive track record of success in rock made them the perfect home to continue preserving and growing our musical legacy, ensuring we always stay at the top."
Allen Kovac, manager of MÖTLEY CRÜE, said: "After working side by side with BMG for well over a decade, the relationship we have developed and success we've accomplished over the years made this a very easy transition to entrust with this treasured rock catalog. Working with BMG in any capacity, whether that's publishing or records, has always been a great experience."
BMG CEO Hartwig Masuch said: "This is more than just a significant transaction. It's a new chapter for an extraordinary catalog. Few bands understand the myth and the magic of rock like MÖTLEY CRÜE do. In an increasingly competitive rights acquisition market, artists need to be convinced that a buyer will do the right thing with their work. I am delighted that MÖTLEY CRÜE have decided BMG will be the best custodians of their musical career."
In June 2022, MÖTLEY CRÜE will kick off their previously postponed (due to the COVID-19 pandemic) 30-plus-date headlining U.S. stadium tour, marking the group's return to the stage for their first major concert run since 2015.
Working closely with the band and its management, BMG's award-winning global catalog team will embark on its plan to re-promote the band's work beginning in 2022.
Michael Kachko, BMG's L.A.-based SVP, catalog recordings, said: "MÖTLEY CRÜE stand among the pantheon of rock legends, the band's legacy is tremendous and their fans avid. You can be sure that we will lavish all the respect and love for the music that BMG is recognized for to deliver current and future fans the best experience we can."
Thomas Scherer, BMG president, repertoire and marketing, New York and Los Angeles, said: "With expert management at the helm, MÖTLEY CRÜE have long owned their own recordings. It is an honor and a privilege for BMG to be entrusted with this catalog. They are the perfect fit for our global digital and physical expertise in rock."
Formed in January 1981 and hailing from the Sunset Strip in Los Angeles, California, the quartet of Vince Neil (lead vocals), Mick Mars (guitars), Nikki Sixx (bass) and Tommy Lee (drums) has commandeered the rock pantheon for four decades.
Together, MÖTLEY CRÜE have sold over 100 million albums worldwide with seven platinum and multi-platinum albums, nine Top 10 albums, 22 Top 40 Mainstream Rock hits, six Top 20 pop singles, three Grammy nominations, a New York Times best-seller, and a star on the Hollywood Walk Of Fame.
The transaction forms part of BMG's long-term strategy to create a 21st century home for the most iconic music rights in popular music history. BMG currently represents or owns rights in many of hard rock's most elite and ground-breaking artists, including BLACK SABBATH, DIO, IRON MAIDEN, Kurt Cobain, MOTÖRHEAD, SCORPIONS, URIAH HEEP and many of the artists who reflect their legacy including GODSMACK, Slash, and BRING ME THE HORIZON.(Source: www.blabbermouth.net)
