LONDON, ENGLAND – JULY 12: Neil Young performs on stage in Hyde Park on July 12, 2019 in London, England. (Photo by Matthew Baker/Getty Images).
Neil Young is the latest legacy star to sell off his song catalog for a hefty fee. The 75-year-old is selling a 50 percent stake of his catalog to Hipgnosis Songs Fund, for a whopping $150 million. Other high-profile artists including Stevie Nicks, Bob Dylan, and Young’s former bandmate David Crosby have also sold off their libraries in recent weeks.
Why are so many stars selling off their song rights? Are you surprised to see an anti-commercial artist like Neil Young make this move?