David Guetta Sells Catalogue To Warner Music For $100 Million

Star producer, David Guetta, has sold his back catalogue to music company, Warner Music, for a nine-figure sum.

The French man, who's behind hits like Titanium with Sia, and I Got A Feeling, received $100m in the deal, which also covers his future recordings.

Guetta is one of the biggest pop figures in the 21st Century, with 50 million records sold and over 14 billion streams. The 52-year old has worked with stars like Rihanna, Nicki Minaj, Bruno Mars, and The Black Eyed Peas.

He started off as a DJ in Paris and Ibiza, making his name with an unauthorised remix of David Bowie's Heroes. In 2009, he got his first UK number one in the form of When Love Takes Over which was recorded with Kelly Rowland. Currently, his collaboration with Little Mix, Heartbreak Anthem, is currently in the top 10 position.

Guetta, who is a two-time Grammy winner, has been instrumental in shaping the sounds of modern pop - helping introduce America to European dance music through his production work the Black Eyed Peas' I Got A Feeling.

"It's rare for an artist to not only define a genre, but transform it," Warner Music boss Max Lousada said in a statement. "David has been doing that for over two decades. He continues to have an extraordinary impact on the evolution of dance music, while innovating and collaborating with new voices in dynamic ways."

The acquisition of hit songs has become serious business over the past three years, as streaming has opened up new revenue sources for classic hits.

The London-based Hipgnosis Song Fund has led the way, taking a 50% share in Neil Young's back catalogue, as well as obtaining the rights to music by Shakira, the Red Hot Chilli Peppers and Fleetwood Mac guitarist Lindsey Buckingham.

Universal Music Group also spent a reported $300 million to acquire Bob Dylan's song catalogue; while Sony Music Group spent $1.4 billion on music-related acquisitions in the past six months - this includes a a nine-figure amount for Paul Simon's hits.

The purpose of these acquisitions is so that investors earn royalties every time one of those songs is played.

This deal with David Guetta is unique however in a regard - in that Guetta has sold his master recordings, rather than his songwriting rights.

Guetta is currently the world's eighth most-popular artist on number one streaming app, Spotify. His manager, Jean-Charles Carré, has revealed that several companies had expressed an interest in buying the rights to his songs.

In a statement, Guetta added: "I'm super excited about the new music I'm working on. And even more excited that I have started to play all this new music live to my fans again and they are loving it.

This deal is about having the best people around me to ensure I can keep innovating with exciting new projects, while also working my extensive catalogue and continuing to build my career."