Irving Azoff‘s Iconic Artists Group has acquired a controlling stake in the Beach Boys’ intellectual property, including the band’s sound recordings, brand, select musical compositions, and memorabilia.
According to a press release, The Beach Boys and their heirs will retain an interest in their assets “to participate in the upside Iconic expects to create by actively marketing and promoting” the band.
Universal’s Bruce Resnikoff told Rolling Stone: “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.”
The price of the Iconic Artists Beach Boys acquisition was undisclosed, but, citing a source, Bloomberg reports that the total value of the assets is $100 million to $200 million.
Azoff’s Iconic Artists Group is described as “a brand development and management company dedicated to building a portfolio of iconic entertainment artists, creators and brands”.
“We acquire and/or manage brands with the goal of providing a perennial solution to protect, curate and develop their legacy into the future,” writes the Los Angeles-based firm on its LinkedIn profile, which states that it was founded in 2018.
In a statement issued today (February 18), Iconic says that it “feels a void in the music business for legendary artists” and adds that it is “dedicated to acquiring, and actively managing a portfolio of select artists’ assets and preserving the important legacy of these music icons”.
“The Beach Boys are an American treasure. I am honored that the Beach Boys have entrusted Iconic to preserve and grow their legacy.”
Irving Azoff
Irving Azoff, Chairman and CEO of The Azoff Company, said: “The Beach Boys are an American treasure.
“I am honored that the Beach Boys have entrusted Iconic to preserve and grow their legacy.
“And I’m thrilled that the Beach Boys want to stay invested in the growth of the incredible cultural brand they created.”
“I want to thank Brian, Mike, Al, and the Carl Wilson family for their belief in Iconic’s unique mission.”
Olivier Chastan, Iconic Artists Group
Olivier Chastan, founder and CEO of Iconic Artists Group, added: “Ever since hearing the opening guitar notes of Wouldn’t It Be Nice as a teenager, The Beach Boys have been one of the permanent soundtracks of my musical life.
“To be entrusted as the custodian of this incredible art and legacy is both humbling and thrilling.
“I want to thank Brian, Mike, Al, and the Carl Wilson family for their belief in Iconic’s unique mission.”
“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.”
The Beach Boys
In a joint statement, the Carl Wilson estate, Brian Wilson, Mike Love and Al Jardine, said: “The Beach Boys and our songs have been one of the great joys of our lives.
“For more than half a century, we’ve witnessed generations of fans from all corners of the world come together to celebrate our music, dancing and singing along to the songs that we have loved and performed for decades.
“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.
“We are confident that Irving and Iconic are the ideal partners and are confident that The Beach Boys’ ongoing legacy is in the best possible hands.
“We are very proud of what we have achieved as The Beach Boys and how our songs continue to resonate with our fans.”Music Business Worldwide
