The rich keep getting richer.
The members of Motley Crue have reportedly sold their entire music catalog to BMG for $150 million, Variety reports. The deal includes every one of the group’s studio albums, from 1981’s Too Fast For Love to 2008’s Saints of Los Angeles, according to the entertainment news source. The sale comes nearly 30 years after the group secured the rights to their music from Elektra Records.
“It feels amazing to be collaborating with our new partners at BMG,” reads a statement released Tuesday by Motley Crue. “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.”
Why have so many musicians sold the rights to their catalogs in recent years?