Rock band Kiss has sold its entire music catalog, brand name, and intellectual property for a whopping $300 million.
The BBC reports that the deal was struck with Swedish music investor Pophouse Entertainment Group. It marks the band's retirement from live performances following their End of the Road World Tour.
More Artists Selling Their Catalogs
This move follows a trend among legendary musicians, including Bob Dylan, Bruce Springsteen, and Genesis, who have also sold their back catalogs for substantial sums.
While specific details of the Kiss deal remain undisclosed, it is believed to be similar to Genesis's sale but falls short of Michael Jackson's monumental $600 million sale.
The agreement with Pophouse Entertainment Group grants them ownership not only of Kiss's music rights but also their entire brand, including likeness and intellectual property.
The BBC notes that this acquisition positions Pophouse to explore innovative avenues, such as AI-generated content, leveraging the iconic band's extensive fan base.
A Legendary Music Journey
Kiss, founded in 1973 by Paul Stanley and Gene Simmons, achieved global fame with hits like "Rock and Roll All Nite" and "God of Thunder." Over their illustrious 50-year career, they have sold over 100 million records worldwide.
Gene Simmons, co-founder and bassist of Kiss, declined to reveal the exact sum of the deal but hinted at its magnitude, quipping it could be in the billions. Per Sundin, CEO of Pophouse, praised the collaboration, emphasizing Kiss's unique appeal and global fan following.
AP reports that despite the sale, both Simmons and Stanley will remain actively involved in the band's ongoing brand development and AI-generated content creation. However, they have confirmed that Kiss will not tour again, marking the end of an era for live performances.
This partnership underscores Pophouse Entertainment Group's commitment to reviving legendary music brands for new generations. Similar initiatives include their collaboration with ABBA on digital avatar projects, aiming to introduce iconic music to contemporary audiences.
The sale of Kiss's catalog joins a list of notable transactions in the music industry, including Dr. Dre, Imagine Dragons, and Justin Bieber, who have all fetched significant sums for their music rights.
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