Toto Drummer Sells Song Catalog For $30 Million
November 19, 2021 2:36PM EST
Toto (Jeff Porcaro) on 14.09.1990 in Saarbrücken. (Photo by Fryderyk Gabowicz/picture alliance via Getty Images)
Toto drummer Jeff Porcaro is cashing out – selling his song catalog to a publisher for a cool $30 million.
The deal includes Porcaro’s share of the band’s biggest hit, “Africa”, as well as master royalties from all the Toto albums Porcaro played on.
The last year has been filled with big-money publishing deals for artists like Stevie Nicks, Bob Dylan, and Neil Young – some worth hundreds of millions of dollars.
Why are we seeing so many song catalog deals right now? Is $30 million worth it for just a portion of the “Africa” rights?
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