Group celebrates 60 years
The Beach Boys have sold majority interest of their music catalog and intellectual property including photos, interviews, band name and overall likeness to mega manager Irving Azoff’s Iconic Artists Group. The band shared the news on Thursday (Feb 18th), assuring that Iconic is representing the band “to create by actively marketing and promoting the Beach Boys.” The band members and its heirs will still have say in future endeavors.
“The Beach Boys are an American treasure,” Azoff, Chairman and CEO of The Azoff Company, says. “I am honored that the Beach Boys have entrusted Iconic to preserve and grow their legacy. And I’m thrilled that the Beach Boys want to stay invested in the growth of the incredible cultural brand they created.”
“The Beach Boys and our songs have been one of the great joys of our lives,” share members Brian Wilson, Mike Love, Al Jardine, and the Carl Wilson Estate. “For more than half a century, we’ve witnessed generations of fans from all corners of the world come together to celebrate our music, dancing and singing along to the songs that we have loved and performed for decades. As we look towards the upcoming 60th anniversary of The Beach Boys, we wanted a partner to help expand opportunities for our brand, while continuing to preserve our tradition as a band whose music transcends the test of time. We are confident that Irving and Iconic are the ideal partners and are confident that The Beach Boys’ ongoing legacy is in the best possible hands. We are very proud of what we have achieved as The Beach Boys and how our songs continue to resonate with our fans.”
Universal Music Group confirms it still owns the band’s master recordings and publishing rights, and that the deal will “only enhance, I think, the value for everybody,” according to UMG’s Bruce Resnikoff.
Terms of the deal were not disclosed, but its estimated the deal is worth $100-200 million.
Azoff quietly launched Iconic Artists Group last year with a mission to build “a portfolio of iconic entertainment artists, creators and brands.” The company acquires and/or manages brands with the goal of “providing a perennial solution to protect, curate and develop their legacy into the future.”
While The Beach Boys are the latest classic band to sell off rights, it’s the first to sell portions of its entire brand while its members are still alive and active. Bob Dylan, Neil Young, Fleetwood Mac’s Lindsay Buckingham, Stevie Nicks and others are among those who’ve sold all or partial rights to their catalogs in recent months.