LOS ANGELES, CA – FEBRUARY 10: (L-R) Brad Whitford, Joe Perry, Joey Kramer, Tom Hamilton and Steven Tyler of Aerosmith attend Steven Tyler’s Second Annual GRAMMY Awards Viewing Party to benefit Janie’s Fund presented by Live Nation at Raleigh Studios on February 10, 2019 in Los Angeles, California. (Photo by Tommaso Boddi/Getty Images for Janie’s Fund).
Aerosmith are the latest legacy rockers to cash in on their massive catalog of hits. The band has announced a ‘worldwide alliance’ with Universal Music Group, consolidating its entire discography under one umbrella. UMG will also work with Aerosmith on future audio-visual projects. Aerosmith’s new deal with Universal Music Group is going to have a surprise benefit for fans.
The deal means UMG will now have access to the band’s “Vindaloo Vaults.” The collection is made up of personal archives of the band members and the archival material will be used to offer up previously unreleased music, rare photos, video footage, artwork, journals, setlists, and other memorabilia. UMG also has plans for multiple projects to mark Aerosmith’s 50th anniversary, with details to be announced soon.
The financial terms of the deal were not made public, but other legacy artists such as Stevie Nicks and Bob Dylan have recently sold off their catalogs for huge money.
Why are so many artists selling their song catalogs?