Paul McCartney Gets Richer Because Others Sold Their Catalogs

The trend of veteran musicians selling their publishing rights has led to an increase in wealth for those who haven’t, The Sunday Times concluded in its annual “Rich List.”

Previewed before the official publication tomorrow (May 23), the British newspaper listed Paul McCartney as the richest musician in the U.K., with an increase in wealth of £20 million ($28.3 million) to £820 million ($1,160 million). Artists including U2, Elton John, Mick Jagger, Keith Richards and others were given a similar markup. The list of richest British rockers is available below.https://3bfde5808c65a7457443e58e68dc2f96.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html

“McCartney, in common with many of the other wrinkly rockers, sees a healthy growth in his wealth this year, despite lockdown and the wider pandemic putting paid to the usually highly lucrative touring revenues generated by so-called heritage acts,” The Sunday Times reported. “Starved of tours, this older generation of performers have fared well on music streaming services instead and also seen the value of their back catalogues soar after a number of eye-catching sales in the past year. This has led our music valuer to attach greater value to the more extensive back catalogues, gains which may be realized in future years if they are sold.”

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