Huey Lewis and the News have sold their catalog for $20 million

[silverstarry]

Comments

[marywebgirl]

I assume they’re still getting ok royalties, so is this a way to get a big lump sum?

[peddlestools]

Streaming pays so little that you need an absurd amount of people to listen to your music and you need to push out new music and/or tour to be successful. But touring during a pandemic is not an option for many artists, especially older people who are more vulnerable to COVID

And speaking of older people, they're American. Being old in America is expensive. I wonder if someone in the group got sick and needed the money to not die. Actually, just being sick and/or disabled in America is expensive regardless of age, but I think everyone knows that

[ari_angelique]

Our healthcare system is so broken. I can't tell you how many minor medical treatments and procedures I've youtubed and done on myself because I don't want a five thousand dollar ER bill.

[ty]

Huey lost his hearing and cannot sing

[skeetertuskin]

royalties are not only tied to streaming. they can be revenues from ads, tv shows, movies etc where their music is used. if they handed over their royalty shares with their catalog, 20 million is a lowball offer considering that they have to split that 4 ways.

[silverstarry]

I don't know the details of their deal, but there were six people in the group when they recorded the albums that were just sold, so I'm guessing they had to split the money six ways (which leaves about $3 million per person before taxes).