Yahoo Finance David Guetta sells back catalogue to Warner for deal worth reported $100m
David Guetta has sold his back catalogue along with his future recordings to Warner Music in a deal reportedly worth around $100m (£72m).
The French DJ and producer is known for hits including “Titanium”, “Memories”, “When Love Takes Over” and “Where Them Girls At”.
The news marks the latest high-profile catalogue deal for the music industry, after artists including Bob Dylan, Paul Simon, Shakira and Blondie also cashed in.
In December, it was announced Bob Dylan had sold his back catalogue to Universal Music Group in a deal reportedly worth $300m (£215m).
Neil Young sold half of his catalogue to music investment fund Hipgnosis Songs for an estimated 150 million dollars (£108 million) while Stevie Nicks sold a majority of her rights for a reported 100 million dollars (£72 million).
“I'm super excited about the new music I'm working on. And even more excited that I have started to play all this new music live to my fans again and they are loving it,” Guetta said in a statement.
“This is the right time to renew my creative partnership with my trusted team at Warner Music.”
He added: “This deal is about having the best people around me to ensure I can keep innovating with exciting new projects, while also working my extensive catalogue and continuing to build my career.”
Guetta, who has collaborated with artists including Sia, Rihanna, Nicki Minaj, Justin Bieber and Bruno Mars, has two Grammy Awards and has sold more than 50 million records worldwide.
Warner Music described him as “one of the defining influences in electronic music and dance culture since the beginning of the millennium”.
“It's rare for an artist to not only define a genre, but transform it,” said Max Lousada, CEO of Warner Recorded Music.
“David has been doing that for over two decades - igniting worldwide audiences and influencing whole generations of talent.”
Additional reporting by Press Association.
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