Hmm, thought I, hmm:
David Bowie says yes to futuristic musical based on his hits
Bowie\’s space-age fantasies will be used for the first time in showcase London performance next year
So, in a business sense, like Mamma Mia or We Will Rock You. Get those old songs up on a West End stage, take the royalties and run.
Although it\’s not quite that. He\’s granted permission for a one off charity gig….which might, if it\’s all lovely, then turn into a longer running production.
The hmmm bit comes from the Bowie Bonds.
Back in 1997, Bowie securitised the future revenues (royalties etc) on his classic songs into a bond issue which was then bought by Prudential. The bonds had a slightly rocky valuation life….the fall in recorded music sales meant they lost rating and value, then the rise of iTunes etc seems to have revived them.
My immediate reaction was that he\’s licencing the songs to see whether greater income can be generated from them in order to pay off (or maybe refinance etc) those bonds.
But the bonds were supposed to mature in 2009. So maybe not: anyone know what is the actual status of those Bowie bonds?
It could be mildly interesting this: the first musical to be driven by having to repay a bond issue.
Just to give a guide, a seriously successful musical, one that had two or three casts around the world, could indeed make serious inroads into at least the financing costs, if not the capital, of a $55 million bond issue.