Long before Merck Mercuriadis' Hipgnosis there was - David Bowie

Decades before Merch Mercuriadis's Hipgnosis Fund started spending billions of dollars on famous artists' catalogs, David Bowie did a similar thing. In 1997 he sold 10-year-security on his entire catalog for $55 million to Prudential Insurance at a fixed interest rate, backed by the royalties from his pre-1990 master recordings and publishing. In essence, he gave up a decade's worth of royalties on 'Heroes', 'Life on Mars', and everything else in exchange for an immediate payout, MusicREDEF reminded us and started a thread about it. Last 12 months Bob Dylan, Shakira, Imagine Dragons and many others did a similar thing - it's a lasting deal, not just 10 years.