The music industry is loaded with artists and the biggest songs in history are very valuable due to their timeless nature for generations to come. A company or person who holds the catalog of musicians with classics will be holding the cards when it comes to monetary potential.
This is partly why Kanye West has recently went on a tirade over owning his masters and declaring that his children will be the owners and not some company or music executive.
L.A. Reid is joining the list of music industry executives who’ve sold their entire catalogs. According to Variety, Reid has sold 100% of his 162-song writing and publishing catalog to Hipgnosis Songs and its Investment adviser, The Family (Music) Limited for an undisclosed amount. This comes as the company appointed Reid to its advisory board.
L.A. Reid is known for being a person to change the trajectory of rhythm and blues during the 1980’s and 1990’s with his Laface label. He co-founded LaFace Records with Babyface in 1998. The label launched the careers of artists like Outkast, Toni Braxton, Usher, Pink, and more.
Reid’s catalog that he sold includes records from TLC, who recently accused him of bailing on the group, Whitney Houston, Bobby Brown, the Whispers, Sheena Easton, Karyn White, and Boyz II Men, among others.
“I can’t imagine a better home for my lifetime of music and songs than Hipgnosis. Merck and his dream team truly value artists and their creative vision, and I couldn’t be more thrilled to partner with them for this exciting new chapter,” Reid said of the deal.
L.A. Reid joins a slew of producers who’ve sold their catalogs to Hipgnosis including The-Dream, RZA, and No I.D.
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