Deftones are the latest major label artist to cash in on their catalogue, selling the bulk of their music rights to Warner Music Group!
According to Billboard, four of the band’s five members have sold their shares of master recording royalties and publishing rights, with one member choosing to retain his stake. The deal is believed to have been finalized at some point within the past two years and is estimated to be worth between $40 million and $75 million, depending on the timing and final terms.
Warner already owned Deftones’ original master recordings and had long served as the band’s publisher through Warner Chappell. As a result of the new agreement, the company will now control the majority of royalties generated by the band’s catalogue.
Deftones join a growing list of high-profile artists who have sold off their music assets in recent years. Bruce Springsteen famously struck a deal worth around $500 million in 2021, while Bob Dylan, Stevie Nicks, Neil Young, and Jack White have all made similar moves. More recently, Slipknot sold their catalogue for $120 million, while Pink Floyd, Queen, KISS, and Tame Impala have also signed major rights deals.
The sale comes during a strong creative and commercial period for the Sacramento band. Deftones released their tenth studio album, Private Music, last summer to widespread acclaim.
Live, the band remains as active as ever. Deftones are set to play a run of UK and European arena shows this year, including a stop at London’s O2 in February, before heading to Australia and New Zealand with Interpol. They’ll also headline All Points East presents Outbreak Fest in London, alongside IDLES and Amyl & The Sniffers.
Good on Deftones. I remember loving this band before they even got a sniff at radio. They deserve all the accolades. Killer band. And good dudes.
