Warner Music has agreed to buy David Guetta’s recorded music catalogue and struck a fresh record deal with the musician in a deal worth more than $100m, according to people familiar with the matter, the latest example of the booming market for music rights as the sector returns to growth.
The 53-year-old French DJ and producer behind hits such as “Titanium” and “Play Hard” is one of the younger musicians to cash in on soaring demand for music rights from private equity groups, record labels and speciality funds such as Hipgnosis.
Warner will acquire Guetta’s two decade-long back catalogue of recorded music and the deal also includes an agreement for future recordings. The companies did not disclose terms, but the price was above $100m, according to a person familiar with the matter.