Paul Simon has sold his entire song catalog to Sony Music Publishing, following in the footsteps of a slew of other older artists who have made money off their life’s work.
The contract, announced on Wednesday by Sony Music Publishing, includes classic songs written and recorded by Simon throughout his 60-year career, including Bridge Over Troubled Water and Still Crazy After All These Years.
The deal’s value was not revealed.
Simon, 79, a 16-time Grammy winner who declared his retirement from touring in 2018, said he was “pleased to have Sony Music Publishing be the custodian of my songs for the next decades” in a tweet.
The sale is the latest in a series of catalog sales that have included Bob Dylan’s, Stevie Nicks’, Neil Young’s, and Carole Bayer Sager’s music in the last year.
In December, Dylan sold his entire back catalog of over 600 songs to Universal Music Group for $300 million, according to sources. Other songs were purchased by London-based Hipgnosis, which attributed the deals to an increase in music streaming, especially during the coronavirus pandemic, when concerts and music festivals were canceled.
Companies may earn royalties by selling their songs for use in movies, advertisements, and branding agreements.
Simon began his career as a folk singer in the late 1950s with his childhood friend Art Garfunkel. Before breaking up, the pair had a series of 1960s hits, including Mrs Robinson, The Sound of Silence, and The Boxer. Simon went on to have a successful solo career, releasing albums and songs such as 50 Ways to Lose Your Lover and Graceland.
“From Simon and Garfunkel standards like Bridge Over Troubled Water to solo classics such as Graceland, Paul Simon’s music resonates deeply as a cultural touchstone for people all over the world,” John Platt, chairman of Sony Music Publishing, said in a statement.