Over the last few months, many legendary artists — including Bob Dylan, Neil Young and Stevie Nicks — have made headlines for selling the rights to their songs for tens of millions of dollars. Now, the U.K. publication Music Week reports that one of the most prolific songwriters in today’s music has done the same.
Ryan Tedder — who in addition to his songs for his band OneRepublic has also written or co-written songs recorded by Beyonce, Adele, Kelly Clarkson, Jonas Brothers, Taylor Swift, Maroon 5, Shawn Mendes, Pink and more — has sold a majority stake in his catalogue of songs to KKR, a global investment firm.
The deal includes nearly 500 songs, but Ryan will retain an interest in the music along with KKR. There’s no word on how much Ryan got for the sale.
“The music industry is undergoing an incredible period of transformation,” Ryan said in a statement. “Streaming and all forms of digital content are not only providing new avenues for how we consume music, but also for how artists can reach new audiences in a much more immersive way.”
He added that KKR “truly impressed upon me and my team their commitment to music as a true focus and passion moving forward.”
OneRepublic was supposed to release their new album Human last year but it got delayed due to the pandemic; it’s set to come out this year.
By Andrea Dresdale
Copyright © 2021, ABC Audio. All rights reserved.