Iconic Artists Group (Iconic), a company dedicated to preserving and amplifying the legacies of legendary artists, today announced its new partnership with Sir Rod Stewart CBE and a strategic investment from HPS Investment Partners (HPS), a leading global investment firm with $107 billion in assets under management.
Iconic has finalized a wide-ranging cross-media partnership with Rod Stewart to acquire, develop, and expand his six-decade musical legacy to new generations of fans. A two-time inductee into the Rock & Roll Hall Of Fame and one of music’s best-selling artists, the landmark arrangement encompasses Stewart's songs spanning his monumental solo career, as well as tenure in two iconic groups, the Faces and Jeff Beck Group. At Iconic, Stewart joins the star-studded Iconic roster, which includes The Beach Boys, Cher, Joe co*cker, Nat King Cole, David Crosby, Dan Fogelberg, Dean Martin, Graham Nash, Linda Ronstadt, and Stephen Stills.
The investment from HPS, together with senior debt financing from third parties, provides Iconic with access to $1 billion of capital as Iconic acquires and manages a diverse portfolio of legendary artists' music assets. With HPS’ support, Iconic will further solidify its position as the trusted partner of choice for artists and their estates seeking to maximize the value of their portfolios and ensure their music continues to inspire and resonate with audiences for generations to come.
Stewart's extraordinary catalog includes ten No. 1 albums and 31 Top 10 singles in the UK, six of which reached No. 1 plus 17 Top 10 albums, with four reaching No. 1 and 16 Top 10 singles in the US. Billboard ranked him as the 15th Greatest Artist Of All Time (6th among male soloist), he's also the 13th Greatest Billboard 200 Artist Of All Time, the 2nd most successful British solo artist of all-time, and has charted an extraordinary six consecutive decades with million-selling studio albums. On February 23, he will release his 32nd studio album, Swing Fever, a timeless salute to the songs of the big band years, in collaboration with Jools Holland and his Rhythm & Blues Orchestra, on Warner Records. His world tour continues in 2024, and he will conclude his critically acclaimed 13-year Las Vegas residency at The Colosseum at Caesars Palace on its 200th show this summer.
"This year marks my 60th year in the music industry. The time is right, and I feel fortunate to have found partners in Irving and his team at Iconic that I can entrust with my life’s work and future musical legacy,” said Sir Rod Stewart.
“We are thrilled to welcome one of the most celebrated singer-songwriters of our time, Rod Stewart, to the Iconic family,” said Irving Azoff, Chairman and CEO of Iconic. "Our new partnership with HPS provides us with the resources and flexibility to make blockbuster signings like this one and to continue the success of our legendary artists and their legacies.”
“Iconic has built an impressive platform and artist portfolio, and we are pleased to provide financing that will enable the company to further scale its business and advance its mission of championing the rights of musical talent,” commented Scot French, Governing Partner at HPS.
Artisan and Moelis acted as financial advisors to Iconic, and Gibson Dunn and Alter, Kendrick & Baron acted as legal advisors. Jackoway Tyerman acted as counsel to Rod Stewart. Lisbeth R. Barron and the team at Barron International Group, LLC acted as financial advisor to HPS Investment Partners, and Latham & Watkins acted as legal advisor.
During his five-decade career, Rod Stewart has done it all. He's one of the best-selling artists in the history of recorded music with more than 250 million records and singles sold worldwide and has been lauded as one of the finest singers of his generation. His signature voice, style, and songwriting have transcended all genres of popular music, from rock, folk, soul, R&B, and even the Great American Songbook, making him one of the few stars to enjoy chart-topping albums throughout every decade of his career. He's written several songs that are now modern standards; he's earned countless of the industry's highest awards, among them the ASCAP Founders Award for songwriting, New York Times bestselling author, Grammy Living Legend, and in 2016, he officially became "Sir Rod Stewart" after being knighted at Buckingham Palace for his services to music and charity. In 2023, his first foray outside of music, Wolfie's Whisky, was another critical hit and has quickly been embraced worldwide.
FAQs
Rod Stewart sells catalog to Iconic Artists Group for around $100m; company raises $1bn to buy more music rights. Irving Azoff's Iconic Artists Group has secured a strategic investment from HPS Investment Partners (HPS), an investment firm with $107 billion in assets under management.
Did Rod Stewart sell the rights to his music? ›
Stewart sold his interests in his publishing catalog and recorded music, as well as some name and likeness rights, to music-industry executive Irving Azoff's Iconic Artists Group for nearly $100 million, according to people familiar with the matter.
How much did Rod Stewart sell his catalog for? ›
Rod Stewart Sells Rights to His Song Catalog for Reported $100 Million.
How is Rod Stewart doing? ›
At 79, Rod Stewart shows no signs of slowing down, with a new swing album with Jools Holland. NEW YORK (AP) — Sir Rod Stewart will not be slowed. At 79, he continues full-throttle with a busy year. Highlights in 2024 include his 200th show at his Las Vegas residency, an ongoing world tour and a new swing album.
How many records has Rod Stewart sold? ›
With his distinctive raspy singing voice, Stewart is among the best-selling music artists of all time, having sold more than 120 million records worldwide. He has had 10 number-one albums and 31 top-ten singles in the UK, six of which reached number one.
Why does Rod Stewart not speak to Elton? ›
Elton even surprised Stewart during a concert at Wembley Arena in 1991 by parading on stage in a full drag costume which raised a smile from his old foe. However, in 2019, Stewart resurrected their feud by accusing Elton's farewell tour of being a “money-grabbing” exercise, “dishonest”, and “not rock 'n' roll”.
Who owns Rod Stewart's music? ›
Watch Latin American Music Awards. Legendary rock singer Rod Stewart has sold his song catalog to Irving Azoff's Iconic Artists for nearly $100 million in a deal that comprises interests in his publishing catalog and recorded music, as well as some name and likeness rights, according to the Wall Street Journal.
How did Rod Stewart get so rich? ›
British rocker Sir Rod Stewart has been entertaining audiences for a staggering six decades, selling over 120 million records throughout his career. As a result, the Maggie May crooner has an estimated net worth of $300 million (£237m).
What did Elton John buy Rod Stewart? ›
Rod Stewart told The Guardian that Elton John showed him up one Christmas when the "Rocketman" singer bought him a Rembrandt painting.
Who sold music catalog for $500 million? ›
Bruce Springsteen sells music catalog to Sony in record-breaking, $500-million deal. Bruce Springsteen, seen performing on Broadway, struck the largest deal to date for rights to an artist's music assets.
Sir Rod Stewart said he wants to “leave all the rock 'n' roll stuff behind” and is looking forward to moving in a different direction with his music.
Is Rod Stewart's wife a lady? ›
Penelope Claire Lancaster, Lady Stewart (born 15 March 1971) is an English model and television personality. She is married to rock singer Rod Stewart.
What happened to Rod Stewart's wife? ›
The former model enjoyed her time on the show so much that she decided to become a police officer. She passed the test in 2021 and has been patrolling the streets of London ever since.
How many marriages has Rod Stewart had? ›
Rod has been married three times. He was wed to Alana Collins-Hamilton from 1979 to 1984, to Rachel Hunter from 1990 to 2006 (though they separated in 1999), and to Penny Lancaster from 2007 to the present.
Who did Rod Stewart lose? ›
Writing on his social media account, Stewart said, “It's with great sadness that I announce the loss of my brother Bob last night, who joins my brother Don on the great football pitch in the sky.” “I've lost two of my best mates in the space of two months. RIP Don and Bob 'irreplaceable buddies' Sir Rod Stewart.”
What was Rod Stewart's number one hit? ›
'Maggie May' is undoubtedly Rod Stewart's greatest ever song, and was the breakthrough to him becoming a household in 1971. Given his reputation for being a 'ladies' man', he had no qualms about confessing the rite-of-passage encounter was "over in a few seconds".
Who sold the rights to their music recently? ›
Bruce Springsteen
The singer known for such hits as “Born to Run” and “Hungry Heart” sold his music catalog to Sony Music Group in late 2021 for an estimated $550 million, The New York Times reported.
How much money is Rod Stewart worth? ›
Between his musical successes and extensive touring, Rod Stewart'snet worth is $300 million, according to Celebrity Net Worth, making him one of the 50 wealthiest musicians in the world.
How much is Rod Stewart worth in 2024? ›
With hits that have become anthems across generations, Stewart's musical journey has been marked by a constant evolution and reinvention, making him one of the most enduring figures in the music industry. According to MediaCoverage, his net worth is estimated to range between $680 million and $730 million as of 2024.
