Prince Estate Sells Significant Stake in Late Artist’s Publishing, Masters, Name and Likeness to Primary Wave

Rock Cellar Magazine StaffCategories:Latest News

Rock Cellar Magazine

Continuing a recent trend in the music business, independent music publisher and talent management company Primary Wave has reportedly acquired a “significant stake” in the Prince estate.

Rolling Stone noted that the company acquired “100 percent of interest in the estate from Omarr Baker, Prince’s brother. Primary Wave had previously cut deals for rights from two of Prince’s other heirs, buying 90 percent of his sister Tyka Nelson’s stake and 100 percent of late half brother Alfred Jackson’s. As part of the deals, Primary Wave will get a stake in Prince’s royalties from his masters as well as a portion of his writer’s share, name and likeness and famous Paisley Park property.”

The Wall Street Journal, meanwhile, reported that the deal grants Primary Wave 42% of the Prince estate’s interest.

Legacy acts (or their estates) striking major deals with publishing companies has been in the headlines for much of the past year, with similar deals happening with the likes of Linda Ronstadt (selling her catalog of music to Irving Azoff’s Iconic Artists Group), David Crosby (selling his catalog to the same group), the Beach Boys (also the same deal), Bob Dylan (selling his entire catalog to Universal Music Publishing Group), Mick Fleetwood (selling his catalog to UMG), Lindsey Buckingham (selling his catalog and rights to Hipgnosis) and Neil Young (also striking a deal with Hipgnosis for 50% of his catalog).

Stevie Nicks, meanwhile, sold 80 % of her catalog to Primary Wave in 2020.

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