Corey Hart Sells Music Catalog – But for How Much Money?

Canadian singer-songwriter Corey Hart has recently made headlines with the sale of his music catalog to Peermusic, a major player in the music publishing industry. This deal, signed in 2019, marks a significant milestone in Hart’s career as it is the first time he has agreed to a global publishing deal that includes his home country of Canada. With over 200 songs in his catalog, including chart-topping hits like “Sunglasses at Night” and “Never Surrender,” Hart’s music has resonated with audiences worldwide, selling over 16 million records.

The acquisition of Hart’s catalog by Peermusic means that they now hold the publishing copyrights for his entire body of work. This includes the right to collect and distribute royalties from his songs, ensuring a steady stream of earnings for Hart. Additionally, Peermusic will represent Hart for neighboring rights, further maximizing the potential revenue from his music.

Key Takeaways:

Corey Hart has sold his music catalog to Peermusic, a major player in the music publishing industry.
The deal includes the publishing copyrights to over 200 songs, including Hart’s iconic hits.
Peermusic will represent Hart for neighboring rights, expanding their collaboration.
The sale of his catalog will have a significant impact on Hart’s net worth, generating substantial royalties and earnings.
Peermusic’s investment in Hart’s catalog further establishes their global reach and influence in the music publishing industry.

Corey Hart’s Partnership with Peermusic

In 2019, Corey Hart entered into an exclusive global publishing administration agreement with peermusic, solidifying a groundbreaking partnership in the music industry. This collaboration marked a significant milestone for both Hart and peermusic, as it allowed the renowned music publishing company to acquire the publishing copyrights for Hart’s entire catalog, including his iconic hits.

As part of the deal, peermusic will also represent Hart for neighboring rights, further expanding their collaboration and ensuring that Hart’s music reaches audiences worldwide. This strategic partnership not only recognizes Hart’s immense talent and contributions to the industry but also highlights his enduring status as an industry icon.

Corey Hart’s songwriting and recordings have shaped the sound of a generation, making his music catalog a valuable asset. The acquisition of his catalog by peermusic demonstrates the industry’s recognition of Hart’s immense talent and the enduring appeal of his music.

The Impact of the Corey Hart and Peermusic Partnership

The partnership between Corey Hart and peermusic has far-reaching implications for both parties. For Hart, this collaboration provides a global platform for his music, expanding his reach and ensuring that his songs continue to resonate with audiences around the world.

Peermusic, on the other hand, benefits from the addition of Hart’s catalog to their extensive portfolio. This strategic acquisition strengthens their position in the music publishing industry and further establishes their global reach. The partnership allows peermusic to tap into the incredible potential of Hart’s songs and leverage his immense popularity to generate revenue and opportunities for creative collaborations.

Corey Hart’s Iconic Hits

Song
Release Year
Chart Performance
Awards

Sunglasses at Night
1984
Reached #7 on the Billboard Hot 100
JUNO Award for Single of the Year

Never Surrender
1985
Peaked at #3 on the Billboard Hot 100
JUNO Award for Single of the Year

Corey Hart’s chart-topping hits, including “Sunglasses at Night” and “Never Surrender,” have become timeless classics and are a testament to his exceptional songwriting abilities. These songs have not only achieved commercial success but have also garnered critical acclaim. The table above highlights some of Corey Hart’s most iconic hits, showcasing their release year, chart performance, and prestigious accolades.

The Impact on Corey Hart’s Net Worth

The sale of Corey Hart’s music catalog will undoubtedly have a significant impact on his net worth. With over 200 songs in his catalog, including chart-topping hits, the sale of publishing copyrights and neighboring rights will generate substantial royalties and earnings for Hart.

This influx of cash will likely contribute to an increase in his overall net worth and provide financial stability for years to come.

Hart’s extensive music catalog, which includes iconic songs like “Sunglasses at Night” and “Never Surrender,” has garnered immense popularity and continues to be celebrated by fans worldwide. The sale of his catalog will allow Hart to monetize his creative work and capitalize on the ongoing demand for his music.

Through the sale of publishing copyrights and neighboring rights, Hart will benefit from the substantial royalties generated through music streaming, licensing, and other revenue streams. This financial windfall not only reflects the enduring appeal of his music but also rewards his contributions to the music industry over the years.

The impact on Hart’s net worth extends beyond the immediate financial gains. It provides him with increased financial security and the freedom to pursue future creative endeavors. This newfound stability allows him to explore new artistic ventures, collaborate with other musicians, or even invest in other business ventures.

Overall, the sale of Corey Hart’s music catalog represents a pivotal moment in his career, solidifying his influence in the music industry and bolstering his net worth for years to come.

Peermusic’s Strategic Investment in Corey Hart

Peermusic’s acquisition of Corey Hart’s music catalog represents a strategic investment in the artist’s talent and body of work. By adding Hart’s catalog to their extensive portfolio, peermusic further establishes their global reach and influence in the music publishing industry. Additionally, peermusic’s dedicated and talented creative team will ensure that Hart’s lesser-known songs receive the attention they deserve, contributing to the overall success of the partnership.

Benefits of Peermusic’s Investment
Details

Expanded Music Publishing Catalog
Corey Hart’s catalog adds significant value to peermusic’s already extensive portfolio.

Global Reach and Influence
Acquiring Hart’s catalog increases peermusic’s international presence and strengthens their position in the industry.

Talented Creative Team
Peermusic’s dedicated team of music professionals will promote both Hart’s well-known hits and underappreciated songs.

The strategic partnership between peermusic and Corey Hart ensures that his music will reach a wider audience, giving his entire catalog the opportunity to thrive. With a shared vision and a collaborative approach, peermusic and Hart are poised to achieve new heights in the music industry.

Corey Hart’s Musical Journey

Corey Hart’s musical career is a testament to his talent and dedication. From a young age, he made a name for himself in the industry, collaborating with renowned artists and creating memorable hits that have stood the test of time.

His journey began with a recording session alongside Paul Anka, where his unique voice and songwriting skills caught the attention of Billy Joel’s saxophone player. This early recognition set the stage for what would become a remarkable career.

Corey Hart’s debut album, “First Offense,” marked his official entry into the music scene. Released in 1983, it quickly gained traction and became a commercial success. One of the standout tracks from the album was the iconic “Sunglasses at Night.” This hit single showcased Hart’s ability to merge catchy pop melodies with introspective lyrics, a skill that would define his musical style.

As his career progressed, Hart continued to release chart-topping hits that captivated audiences worldwide. Songs like “Never Surrender” and “Everything in My Heart” became anthems for a generation, resonating with fans and solidifying his status as a respected artist.

In recognition of his exceptional talent, Corey Hart received a Grammy nomination, solidifying his place among music’s elite. Additionally, his contributions to the industry have been honored with multiple awards from prestigious organizations like ASCAP and JUNO.

Grammy Nominations
Year

Best New Artist
1984

Corey Hart’s achievements and contribution to the music industry are a testament to his talent and enduring appeal. His distinctive sound and heartfelt lyrics have left an indelible mark on the music scene, ensuring his place in the annals of music history.

The Importance of Music Catalogs in the Industry

The recent trend of companies acquiring music catalogs highlights the importance of these assets in the music industry. Music catalogs serve as valuable resources for artists and companies alike, providing a multitude of benefits.

Financial Stability: For artists, selling their catalogs can bring a significant upfront infusion of cash. This financial windfall can provide stability and security, ensuring a steady income for the rest of their lives.
Artist Revenue: Catalog sales allow artists to capitalize on the value of their creations. By selling their catalogs, artists can unlock potential earnings from royalties and licensing deals, creating ongoing revenue streams.
Exploitation of Songs: Companies acquiring music catalogs can fully exploit the value of the songs within the catalog. They can utilize the songs for various purposes, such as synchronization in films, commercials, and TV shows, generating additional revenue.
Industry Influence: The acquisition of music catalogs by companies can significantly impact the industry landscape. It can lead to the consolidation of music assets and contribute to the influence and reach of these companies in the music publishing sector.

One prime example of this growing trend is the recent acquisition of Corey Hart’s music catalog by peermusic. This strategic partnership not only provides financial benefits for Hart but also allows peermusic to leverage the value of his catalog to generate revenue and expand their influence in the industry.

The Value of Music Catalogs

Music catalogs represent a rich collection of artistic creation and cultural significance. They encapsulate an artist’s body of work, comprising singles, albums, and unreleased tracks. Each song in a catalog tells a unique story and represents a piece of the artist’s artistic journey.

Moreover, music catalogs have historical and timeless value. They serve as a reflection of the artist’s growth, evolution, and creative expression. Beyond their monetary worth, music catalogs hold immense sentimental and cultural importance.

The Role of Catalog Sales in the Music Business

Catalog sales in the music business play a vital role in shaping the financial landscape and artist revenue streams. These sales provide artists with newfound financial stability and allow companies to explore new avenues of revenue generation.

For artists, the sale of their catalogs can bring immediate financial relief and security. It can relieve financial pressures, enable investments in new projects, and provide a steady income stream for years to come. The influx of cash can also facilitate personal and professional growth, allowing artists to explore creative opportunities without financial constraints.

On the other hand, companies acquiring music catalogs stand to benefit from the extensive repertoire of songs. They can leverage these catalogs to generate revenue through royalty collections, licensing deals, and synchronization opportunities. Moreover, owning prestigious catalogs adds to the company’s reputation and influence within the industry.

The Future of Music Catalogs

The significance of music catalogs is expected to grow in the future as artists recognize their value and companies continue to invest in their acquisition. Catalogs will serve as valuable assets for artists to secure their financial future and for companies to diversify their revenue sources.

Emerging technologies and digital platforms also present new opportunities for music catalogs. Streaming services, social media, and online content platforms offer avenues for songs within catalogs to reach wider audiences, promoting ongoing interest and revenue potential.

Overall, music catalogs are pivotal in providing financial stability for artists and revenue opportunities for companies. They are not just collections of songs but pillars of artistic and financial value in the music industry.

The Evolution of Peermusic’s Acquisitions

Peermusic has been actively expanding its presence in the music publishing industry through strategic acquisitions. In addition to the recent acquisition of Corey Hart’s catalog, Peermusic made several notable acquisitions in 2020 that have significantly strengthened its offerings and market position.

Acquisition of Premier Muzik

In 2020, Peermusic acquired Premier Muzik, a Canada-based music publishing company. This acquisition allowed Peermusic to further establish its presence in the Canadian music industry and gain access to Premier Muzik’s impressive catalog of songs.

Acquisition of All Right Music

Peermusic also expanded its reach in the French market by acquiring All Right Music, a music publishing company based in France. This strategic acquisition not only added valuable French repertoire to Peermusic’s catalog but also positioned the company for increased success in the European music industry.

Formation of Global Master Rights

An important milestone in Peermusic’s evolution was the creation of Global Master Rights, a new neighboring rights company. This was made possible through the acquisition of Global Master Rights, a Netherlands-based company specializing in neighboring rights management. With this addition, Peermusic further solidified its position as a comprehensive music rights management company.

These acquisitions reflect Peermusic’s commitment to growth and innovation in the industry. By expanding its catalog and market presence, Peermusic continues to provide valuable services to songwriters, composers, and music creators around the world.

Acquisition
Year
Country

Premier Muzik
2020
Canada

All Right Music
2020
France

Global Master Rights
2020
Netherlands

The Financial Impact of Music Catalog Sales

The sale of music catalogs has a profound financial effect on both artists and acquiring companies. Here’s a closer look at how music catalog sales can shape the financial landscape:

Artists: Cash Infusion and Long-Term Stability

For artists, selling their music catalogs offers a substantial cash infusion upfront. This influx of funds provides immediate financial relief, allowing artists to invest in new projects, pursue creative endeavors, or secure their long-term financial stability.

By receiving a significant lump sum payment from the sale, artists can alleviate financial pressures, including debt obligations or unexpected expenses. This newfound financial security empowers artists to focus on their craft and explore new creative opportunities without the burden of financial constraints.

Tax Advantages and Capital Gains Laws

Additionally, music catalog sales can provide artists with significant tax advantages. Depending on the jurisdiction and applicable capital gains laws, artists may be able to benefit from favorable tax treatment, minimizing the tax liability associated with the sale.

Capital gains laws vary by country and can offer tax benefits for individuals selling assets, such as music catalogs, that have appreciated in value over time. Understanding these laws and working with financial advisors can help artists maximize the financial gains from their catalog sales while optimizing their tax strategy.

Acquiring Companies: Profits and Revenue Streams

On the other side of the equation, acquiring companies seek to generate profits from music catalog acquisitions. These companies aim to exploit the value of the song catalogs they acquire through various revenue streams, including royalties, licensing deals, and synchronization opportunities.

The acquired catalogs become an asset for the acquiring companies, creating an ongoing revenue stream through the collection of royalties from music streaming, radio airplay, TV broadcast, and other distribution channels. By carefully managing and promoting the acquired music catalogs, these companies can consistently generate income from the songs’ enduring popularity and continued usage.

Furthermore, acquiring music catalogs gives companies the opportunity to explore creative licensing and synchronization opportunities, such as placements in movies, commercials, or other media. These additional revenue streams contribute to the overall profitability of the catalog acquisition and enhance the company’s financial performance.

Overall, music catalog sales have a profound impact on both artists and acquiring companies. Artists benefit from immediate financial relief and long-term stability, while acquiring companies leverage the value of the catalogs to generate consistent profits and revenue streams. Understanding the financial implications of music catalog sales is crucial for artists and industry professionals navigating the ever-evolving landscape of the music business.

The Growing Trend of Artist Catalog Sales

In recent years, the music industry has witnessed a significant surge in artist catalog sales. Companies such as Concord Music, Primary Wave, Round Hill, and Hipgnosis have been at the forefront of this trend, investing billions to acquire song catalogues from successful artists. This strategic move not only benefits the acquiring companies but also provides artists the opportunity to capitalize on the value of their catalogs and secure long-term financial stability.

One notable example of this trend is the recent sale of Corey Hart’s music catalog. While Peermusic acquired the publishing copyrights and neighboring rights to Hart’s entire catalog, other companies have been actively engaged in similar transactions, expanding their portfolios and solidifying their positions in the music publishing industry.

Comparison of Artist Catalog Acquisitions

Company
Notable Artist Catalog Acquisitions

Concord Music

Sammy Cahn
Bill Haley & His Comets
Cy Coleman

Primary Wave

Bob Marley
Whitney Houston
Kurt Cobain

Round Hill

The Beatles (John Lennon & Paul McCartney)
Donna Summer
Neil Sedaka

Hipgnosis

Fleetwood Mac
Beyoncé
Jay-Z

This growing trend not only proves the value and importance of song catalogues in the music industry but also showcases the confidence companies have in the potential revenue streams generated by these catalogs. Acquiring song catalogues allows companies to generate profits through various means, including royalties, licensing deals, and creative opportunities.

This shift in the music business landscape highlights the evolving nature of an industry that constantly adapts to new trends and opportunities. As more artists recognize the potential of their catalogs, we can expect this trend of artist catalog sales to continue, reshaping the dynamics of the music industry.

The Future of Corey Hart’s Catalog and Legacy

With peermusic now overseeing the curation and management of Corey Hart’s catalog, his impressive body of work will be preserved and strategically promoted for years to come. Peermusic’s dedicated and talented creative team will ensure that Hart’s music continues to resonate with audiences and that even his lesser-known songs have opportunities to shine. This partnership will solidify Hart’s legacy as a renowned artist and contribute to the ongoing success of his music repertoire.

Hart’s catalog, consisting of over 200 songs, including his iconic hits “Sunglasses at Night” and “Never Surrender,” represents a significant part of his musical journey. Peermusic’s expertise in catalog curation and long-term management will provide the necessary framework to showcase and highlight the breadth of Hart’s creative talent.

By carefully curating the catalog and exploring new opportunities, peermusic can open doors to creative collaborations, licensing deals, and innovative marketing campaigns. These initiatives will not only introduce Hart’s music to new generations but also reinvigorate interest from existing fans, ensuring that his impact on the music industry remains timeless.

FAQ

The post Corey Hart Sells Music Catalog – But for How Much Money? appeared first on Zac Johnson.