According to Billboard, Deftones have sold most of their music catalog to Warner Music Group. The deal included the band’s master-recording royalties, co-publishing interests, and writer’s royalties.
The group were reportedly asking for a “mid-to high-double-digit multiple” for the catalog. Billboard also added the following about that:
“That multiple refers to how many times net label share and net publisher’s share (a.k.a. gross profit) can be divided into the valuation price. While publishing deals usually carry a higher multiple than master-recording royalties, that gap has been narrowing in recent years.
Today, music assets generally trade — depending on the catalog’s heritage and the rights involved — in a 12- to 18-times-multiple range, though superstar artists and songwriters have been known to achieve above 20-times multiples.”
Notably, Warner already owned the band’s master recordings and their publishing was handled in-house through Warner Chappell. It was also mentioned that one member chose to keep their share of publishing and master-recording royalties.
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