Neil Diamond Sells Song Catalog, Including Trove Of Unreleased Tracks, To Universal Music Group

Prior to its deal with Irving Azoff’s Iconic Artists Group which was announced last week, the Nat King Cole estate sold a stack of the late musician’s recordings to Universal Music, it has now emerged.Cole had a career-long relationship with Capitol Records, which was acquired by Universal when it bought the EMI record company back in 2012. However, in the latter part of his career a by then famous Cole negotiated a deal with Capitol that allowed him to retain the rights in his later recordings, which he then licensed back to the label.According to Forbes, the estate sold those rights to Universal in a deal worth somewhere between $10 million and $20 million.

Universal Studio Group has made permanent the interim roles held by Beatrice Springborn and David O’Donoghue, with Springborn becoming President of UCP and Universal International Studios and O’Donoghue taking on the Head of Universal International Studios post.

Jem Aswad Senior Music EditorThe family of legendary singer-songwriter Nat King Cole, one of the most important and influential musicians of the 20 th century, has entered into an agreement with Irving Azoff’s Iconic Artists Group to manage and expand his legacy to new generations, the company announced today.Details of the transaction were not disclosed, beyond the fact that it “encompasses a broad range of rights from Cole’s legendary career including his recorded music, publishing, television shows, and name and likeness.”In the decades before his 1965 death from lung cancer at the age of just 45, Cole scored more than 150 singles across Billboard’s pop, R&B, and country charts and has sold an estimated 50 million-plus records worldwide. While best known as a crooner, he was a formidable jazz musician as well, and is best known for classics like “The Very Thought of You,” “Straighten Up and Fly Right,” “Unforgettable,” “Nature Boy,” “Stardust,” “When I Fall In Love,” “Mona Lisa,” “L-O-V-E,” and the holiday staple, “The Christmas Song (Chestnuts Roasting on an Open Fire).” As the announcement notes, Cole, who was born in Alabama in 1919, was subjected to all the barriers of the Jim Crow era, yet his success played no small role in advancing Black Americans’ presence in entertainment and public perception.

Jem Aswad Senior Music EditorWarner Music Group has suspended all of its operations in Russia, the company has confirmed to Variety. “Warner Music Group is suspending operations in Russia, including investments in and development of projects, promotional and marketing activities, and manufacturing of all physical products,” according to a statement from the company. “We will continue to fulfill our agreed upon obligations to our people, artists, and songwriters as best we can as the situation unfolds.

Good Morning Britain (GMB) spoke to the deputy mayor of Mariupol, Sergei Orlov, on Thursday morning (March 10) following Russia's air strike on the Ukrainian city.

Universal Music Group has become one of the latest media companies to suspend operations in Russia amid the country’s invasion of Ukraine. The music publishing giant on Tuesday said it was closing its offices in Russia, effective immediately. Meanwhile, major Western food and beverage companies Coca-Cola, McDonald’s and Starbucks are also pulling out.

Variety reports.“We are adhering to international sanctions and, along with our employees and artists, have been working with groups from a range of countries… to support humanitarian relief efforts to bring urgent aid to refugees in the region.”According to Variety, a source has revealed that while the company’s staffers will continue to receive their salaries for an indeterminate amount of time, artists will likely see their recording activity frozen.Universal are the latest business to announce their withdrawal from Russia following its invasion of Ukraine on February 24, with the attack drawing widespread condemnation around the globe.Earlier this month, Live Nation announced they would not be promoting shows in Russia or doing business with the country, saying in a statement they were joining “the world in condemning Russia’s invasion of Ukraine”.Spotify, meanwhile, shuttered its Moscow office in response to the invasion, and said it would restrict the discoverability of content owned and operated by Russian state-affiliated media. They stopped short of shutting off service to Russian users, saying they believe it’s “critically important to try to keep our service operational in Russia to allow for the global flow of information”.One company who has suspended their service in Russia is Netflix, who shut down streaming in the country last week.

Jem Aswad Senior Music EditorUniversal Music Group has suspended all of its operations in Russia, the company has confirmed to Variety. “Effective immediately, we are suspending all operations in Russia and closing our offices there. We urge an end to the violence in Ukraine as soon as possible. We are adhering to international sanctions and, along with our employees and artists, have been working with groups from a range of countries (including the U.S., U.K., Poland, Slovakia, Germany, Czech Republic and Hungary) to support humanitarian relief efforts to bring urgent aid to refugees in the region.”A source tells Variety that the company’s staffers will continue to receive their salaries for an undetermined time, although artists will presumably see most if not all of their recording activity paused.  All three major labels — Universal, Sony and Warner — have local labels and operations in Russia; while reps for Sony and Warner did not immediately respond to requests for comment, sources both companies are likely to announce decisions about their status in the country within 24-48 hours.

Jem Aswad Senior Music EditorHipgnosis Song Management has acquired the song catalog of Leonard Cohen, poet, novelist, performer and one of the most influential songwriters of the past 50 years. The Canadian-born artist, who died in 2016 at the age of 82, is an inductee of both the Songwriters Hall Of Fame and the Rock and Roll Hall Of Fame.Hipgnosis has acquired rights in all 278 songs and derivatives written by Leonard Cohen, including “Hallelujah,” which has been covered more than 300 times.

Jem Aswad Senior Music EditorAnyone paying even casual attention to the music industry must have noticed the skyrocketing value of song catalogs, which have exploded at such a rate that we’re seeing an average of two or three nine-figure deals per month, with Sting, Neil Diamond and David Bowie’s estate making multi-hundred-million-dollar sales in just the past two months.Thus, it was just a matter of time before performing rights organizations — an often-overlooked multi-billion dollar business that collects royalties when songs are played everywhere from bars and restaurants to stadiums — got into the game, and BMI, which along with ASCAP is the biggest PRO in the U.S., has enlisted unnamed advisors to assist in exploring opportunities for its members and its business, according to an internal letter obtained by Variety. In the letter, BMI president-CEO Mike O’Neill sets the scene described above and writes, “It’s important that we evaluate what this could mean for BMI, both now and into the future.

NEW YORK -- A musical about Neil Diamond has found the polished theater gem who will play the icon onstage — Will Swenson.Swenson has been tapped to lead “A Beautiful Noise, The Neil Diamond Musical” this summer when it makes its debut at Boston’s Emerson Colonial Theatre. Swenson calls it a not straightforward musical.

Jem Aswad Senior Music EditorThe world’s largest music company, Universal Music Group, posted a record $9.4 billion in revenue for 2021, the company announced in its earnings report on Thursday. That marks a 14.4% increase over 2020, although comparisons with the pandemic year are obviously skewed.Recorded music revenues were up 14.3% to around $7.52 billion, while streaming soared nearly 17% to just under $5 billion.

Neil Diamond has sold his entire songwriting and recording catalogue to Universal Music Publishing Group for an undisclosed amount.In addition to his publishing and masters, the deal includes 110 unreleased tracks, an unreleased album, and archival video footage.According to Rolling Stone, UMG will also handle any future Neil Diamond music if the musician decides to record any new music.“After nearly a decade in business with UMG, I am thankful for the trust and respect that we have built together and I feel confident in the knowledge that Lucian, Jody, Bruce, Michelle, and the global team at UMG, will continue to represent my catalog and future releases with the same passion and integrity that have always fueled my career,” Diamond said in a statement about the sale.Lucian Grainge, UMG’s chairman and CEO, added: “Neil Diamond is by definition, a truly universal songwriter. His immense songbook and recordings encompass some of the most cherished and enduring songs in music history.

Neil Diamond has joined the list of musicians who have made to sell their music catalogs, signing multi-million dollar music contracts over the last year, including Bruce Springsteen, Shakira, Stevie Nicks, and more.And while this seems to be the first time that the financial terms of the deal are kept private, it was announced that Diamond’s recording rights and his entire song catalog were officially sold to Universal Music Group.The deal includes rights to all recordings from the singer’s career, which lists 110 unreleased tracks, archival videos and an entire unreleased album. This means that Universal has control over his music, and can even release future songs or albums if the 81-year-old artist works in more music.Diamond’s music has been used in different movies and films, including ‘Friends,’ The Simpsons’ and ‘Pulp Fiction’ and many of his most iconic tracks have become hits with the help of other artists, who have cover versions of his songs, such as ‘Sweet Caroline,’ ‘Red Red Wine’ and ‘I’m a Believer,’ among others.’The successful artist retired in 2018, announcing he had Parkinson’s disease.

Universal Music has acquired the full recordings and publishing catalogue of Neil Diamond, expanding on their existing relationship with the musician.“After nearly a decade in business with UMG, I am thankful for the trust and respect that we have built together and I feel confident in the knowledge that the global team at UMG will continue to represent my catalogue, and future releases, with the same passion and integrity that have always fuelled my career”, he says.Universal CEO Lucian Grainge adds: “Neil Diamond is, by definition, a truly universal songwriter. His immense songbook and recordings encompass some of the most cherished and enduring songs in music history.