Olivier Chastan’s acquisition vehicle Iconoclast has struck a deal for a catalog of music assets of legendary singer and artist Tony Bennett.
Included as part of the deal, according to Iconoclast, are rights to certain Tony Bennett sound recordings, his sound recording royalties, NIL (name, image & likeness) and archives/memorabilia.
The value of the transaction was not disclosed by the company, but sources tell MBW that the deal was worth below $50 million.
It’s understood that Sony Music will continue to own/control the bulk of Bennett’s sound recordings catalog.
Iconoclast, working alongside Bennett’s son and manager Danny Bennett, said that it has already secured deals for a number of upcoming “Tony Bennett-branded initiatives”, such as a series of watches with Bulova and a restaurant located in New York City.
Other initiatives include an event with Julien’s Auction at The Lincoln Center, a biographical graphic novel, and various film and TV projects including The Lady and The Legend documentary featuring Tony Bennett’s relationship with Lady Gaga from Paramount +.
Iconoclast noted on Tuesday (March 19) that Bennett was “one of a handful of artists to have new albums charting in the 1950s, 1960s, 1970s, 1980s, 1990s, and now in the first two decades of the 21st century”.
Tony Bennett, a 19-time Grammy winner and Grammy Lifetime Achievement award recipient, Emmy award winner, and Kennedy Center Honoree, became the oldest artist to have an album hit No.1 on the Billboard Top 200 twice.
“We all walk in the footsteps of giants. Tony was one of these giants,” said Iconoclast founder Olivier Chastan.
“Tony’s legacy is one of character, integrity, kindness, and courage. We are truly honored to be the custodians of this incredible and historical legend.”
Olivier Chastan
He added: “His legacy shines beyond music and is woven into America’s cultural, social and political fabric and history.
“Besides his extraordinary talent that radiated for over 60 years, Tony’s legacy is one of character, integrity, kindness, and courage. We are truly honored to be the custodians of this incredible and historical legend.”
“I am proud and confident to say that working with Olivier and the Iconoclast family will continue this tradition to ensure that the legacy of Tony’s life and artistic body of work will endure for future generations to come.”
Danny Bennett
“In working with Tony for over 40 years, my philosophy was always that I didn’t manage a career but, rather, managed a legacy,” said Danny Bennett.
“I am proud and confident to say that working with Olivier and the Iconoclast family will continue this tradition to ensure that the legacy of Tony’s life and artistic body of work will endure for future generations to come.”
Veteran music executive Olivier Chastan was previously CEO at Irving Azoff’s Iconic Artists Group.
Iconoclast was founded in late 2021, and at the time purchased Robbie Robertson’s music publishing and NIL (name, image & likeness) rights, plus his recorded music interests, covering his career to date.
In August 2023 Iconoclast acquired the producer royalties of composer, songwriter, and producer Giorgio Moroder.
In May 2023, the firm acquired the music publishing catalog of Beyonce and M.I.A. collaborator, Switch.
In February 2023, Iconoclast acquired the catalog of Mad Decent Publishing, co-founded by DJ and producer Diplo and Kevin Kusastsu.
In March 2023, Iconoclast snapped up the music publishing catalog of Lady Gaga co-writer and producer Nick Monson.
In July 2022, veteran music executive and producer Irv Gotti (Irving Lorenzo), the founder of rap label Murder Inc, sold a stake in his master recordings to Iconoclast in a deal worth $300 million.
Sam Roseme and Peter Paterno of King, Holmes, Paterno & Soriano, LLP. represented Iconoclast, and Don Friedman of Grubman, Shire, Meiselas & Sacks, P.C. represented Tony Bennett in the latest transaction.Music Business Worldwide
