Tom Petty Estate Signs New Deal with Warner Chappell Music
The Tom Petty Estate has brokered a new deal with Warner Chappell Music to distribute the catalog of the iconic late singer-songwriter.
According to Variety, this deal includes the distribution of Petty’s work as a solo artist and with the Heartbreakers. While the terms of the deal were not disclosed, this deal has nothing to do with the sale of the Petty catalog. In recent years, catalog sales have been an ever-growing trend, especially among legacy artists.
The Petty Estate said in a statement, “We’re looking forward to this new partnership with the team at Warner Chappell, as we expand the reach of Tom’s iconic song catalog. This partnership will open the door to new licensing opportunities and serve to introduce his music to a new generation across the globe.”
Warner Chappell Music’s Co-Chair and COO, Carianne Marshall, and Co-Chair and CEO, Guy Moot, said in a joint statement, “Tom Petty’s music is woven into the fabric of our lives, not just across America, but around the world … Tom’s unmistakable sound and lyrics remain as timeless and vital today as ever, and all of us at Warner Chappell Music are honored to be joining with his estate to help amplify his extraordinary legacy on a global scale.”
Petty’s 2023 Posthumous ‘Billboard’ Chart Hit
When it comes to expanding Petty’s reach on a global scale, there’s a good chance Warner Chappell Music is looking to charting moments like this.
In December 2023, Petty earned some surprising love from Billboard on their Rock Digital Song Sales chart when “Love Is A Long Road” appeared at No. 7. How did that happen? The track was featured in the trailer for the video game Grand Theft Auto VI.
“Love Is A Long Road” is featured on Petty’s hit 1989 debut solo album Full Moon Fever. The track is considered a deep cut on the album since it already many classic songs. Among them are “I Won’t Back Down,” “Runnin’ Down a Dream” and “Free Fallin’.”
Before the release of the Rock Digital Song Sales chart, Billboard reported on Dec. 7, 2023 that “Love Is a Long Road” already saw an over 8,000% increase in streams thanks to the GTA trailer.
Billboard noted, “Though ‘Long Road’ was only drawing between 4,000-5,000 daily official on-demand U.S. streams before over the weekend, that number was up to 78,000 on Monday (Dec. 4) – when the trailer first leaked on social media – and rocketed to 376,000 on Tuesday after the trailer’s proper release, according to preliminary numbers from Luminate: a gain of 8,421% from the prior Sunday.”
