The Beach Boys have joined list of famous veteran artists who recently have sold interests in their music catalogs.
On Thursday, Variety reported that longtime Eagles manager Irving Azoff's recently launched Iconic Artists Group has bought a controlling interest in the Beach Boys' intellectual property, including sound recordings, select compositions and its brand and memorabilia.
According to the announcement, The Beach Boys' main members and their heirs will keep an interest in the group's assets and will "participate in the upside Iconic expects to create by actively marketing and promoting the Beach Boys."
"For more than half a century, we've witnessed generations of fans from all corners of the world come together to celebrate our music," say Brian Wilson, Mike Love, Al Jardine and the estate of the late Carl Wilson in a joint statement, reports Variety.
"As we look towards the upcoming 60th anniversary of The Beach Boys, we wanted a partner to help expand opportunities for our brand, while continuing to preserve our tradition as a band whose music transcends the test of time," they add. "We are confident that Irving and Iconic are the ideal partners."
Adds Azoff, "The Beach Boys are an American treasure. I am honored that the Beach Boys have entrusted Iconic to preserve and grow their legacy."
The deal apparently doesn't include much of The Beach Boys' classic 1960s catalog, which is owned by Universal Music Group.
UMG executive Bruce Resnikoff tells Variety, "We have the original recordings, and we have the publishing, but our ability to do the most with this band relies on the ability to work with the band. Iconic will represent the band in a way that will only enhance, I think, the value for everybody."
By Matt Friedlander
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