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Sony Music Publishing said on Wednesday the
deal includes classic songs ranging from "Bridge Over Troubled
Water," to "Still Crazy After All These Years" that Simon wrote
and recorded over his six-decade career.
The value of the deal was not disclosed.
Simon, 79, a 16-time Grammy winner who in 2018 announced he was
retiring from touring, said in a statement he was "pleased to
have Sony Music Publishing be the custodian of my songs for the
coming decades."
The sale is the latest in a string of catalog deals that
includes the music of Bob Dylan, Stevie Nicks, Neil Young and
Carole Bayer Sager in the past year.
Dylan sold his back catalog of more than 600 songs in December
to Universal Music Group and the purchase price was widely
reported as $300 million. Other songs have been snapped up by
London-based Hipgnosis, which has attributed the deals to a
surge in music streaming especially during the coronavirus
pandemic when concerts and music festivals have been canceled.
Companies can reap royalties from licensing the songs they have
acquired for use in movies, commercials and branding deals.
Simon launched his career in the late 1950S as a folk singer
along with his childhood friend Art Garfunkel. The duo turned
out a string of 1960s hits including "Mrs Robinson" "The Sound
of Silence," and "The Boxer" before splitting up. Simon embarked
on a solo career that produced hit albums and songs including
"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.
(Reporting by Jill Serjeant; Editing by David Gregorio)
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