ZZ Top Sells Their Music Catalogue For $50M To BMG

According to reports, ZZ Top is selling its music catalogue to investment firm KKR and record company BMG for $50 million.

According to the Wall Street Journal, the Texas trio, known for hits like “Legs,” “Cheap Sunglasses” and “Gimme All Your Lovin,'” sold their music interests, which include the publishing catalogue as well as income from recorded music royalties and performance royalties.

Related: The Boss Sold His Catalogue For $500 Million...

The sale follows a slew of high-profile deals in which legendary rock stars are cashing out.

Here’s a List of Artists Who Have Recently Sold Out!

Bruce Springsteen-$500 Million
Bob Dylan-$300-$400 Million
Stevie Nicks-$100 Million

And according to reports last month, Universal Music Group has been in advance talks with Sting to buy his music for $250 million, while Warner Music Group is raising $535 million to buy David Bowie’s music.

Why are so many selling out?  They’re also fuelled by streaming, which offers the possibility of more lucrative royalties as customers flock to services like Spotify and Apple Music.