Universal, Hipgnosis, Primary Wave, and others have paid multiple hundreds of millions for music catalogs ranging from Bob Dylan’s to that of Stevie Nicks. But “music publishing and related intellectual-property management and exploitation is not a business one enters lightly. Famously called ‘a business of pennies,’ it requires attentive nurturing and development in order to maximize the value. … [Song catalogs] are demanding, ephemeral assets that require a lot of attention — pitching, repackaging, finding new opportunities — without oversaturating and thus damaging the artist (a.k.a the brand) or the songs.” – Variety
