The Beach Boys group has sold a majority stake in all of its intellectual property to the Iconic Artists Group, a company recently formed by renowned producer Irving Azoff. According to Rolling Stone, the amount of the deal was not disclosed, but the company now owns all the Beach Boys’ master recordings, a share of their publishing rights, symbols and, most notably, the entire Beach Boys brand, including images of the participants.
The decision to sell was made collectively by Brian Wilson, Mike Love, and Alan Jardine, as well as Carl Wilson’s sons, John and Justin, who became his father’s heirs after his death in 1998. Everyone retains their equity interest in the assets, only now Iconic will control all major business solutions under the Beach Boys banner.
As the publication notes, this looks like a rather radical step, but it solves a long-standing problem within the group. Ever since Brian and Dennis Wilson and Carl’s father, Merry Wilson, sold the group’s publishing company to A&M Records in 1969 for just $ 700,000, the Beach Boys ‘ relationship has been dominated by infighting. The group has hired the individual managers and is often served at each other and their labels in the court. In recent years, Love has toured under the Beach Boys moniker, with Brian Wilson playing solo. And their attempts to release merchandising and other business plans were also frustrated by the inability to negotiate with each other.
The Iconic Artists Group plans to grow and monetize the Beach Boys brand everywhere, making the most of social media to attract new fans and increase the profitability of documentaries, biographies, and soundtrack placement. The band members themselves are focused on a wide range of opportunities.
«There could be a musical on Broadway, which we haven’t done yet,» Love said. Take a look at what happened to the Four Seasons and Jersey Boys, which were a huge success all over the world. There is no reason why the same could not be true of the Beach Boys.
«Maybe we’ll have a little theme park somewhere, or, I don’t know, restaurants,» Jardine fantasizes. «I’ve always wanted to have a Beach Boys restaurant somewhere.
Iconic CEO Olivier Chastan said that, quite possibly, he sees in the future 3D versions of the band’s records or a tour of their holograms.