KISS sold its entire music catalog, likeness, and brand name to Swedish entertainment group Pophouse for a staggering $300 million. Gene Simmons, their most outspoken member, explained their band's recent bold business move.
Gene Simmons Explains KISS $300 Million Catalog Sale
Speaking to People magazine, Simmons says that he felt the catalog sale was the "natural thing to do" despite not actively looking for it at the time.
"Life happens while you're busy making important plans," he shared. "We were planning our respectful, proud walking off into the sunset, because we've been touring, we had been touring for half a century."
However, the 74-year-old rocker confirmed that he "didn't want to" continue to tour until they couldn't physically do it anymore. Paul Stanley is 72, Eric Singer is 65, and Tommy Thayer is 63.
"I don't want to go out there with my walker," he joked before expounding on their decision to sell the prized catalog.
Pophouse Entertainment's acquisition of KISS' catalog comes after it bought the majority share of Cyndi Lauper's music rights.
"We've all seen boxers and artists who will stay in the ring too long and get knocked out by some amateur. You don't want to do that, you want to go out on top. And we did it the right way, out of respect and love for the fans."
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Pophouse Entertainment Chief Executive Officer Per Sundin assured fans they have plans for the legendary band's music.
"The record companies, the three big ones that are left, they're doing a fantastic job, but they have so many catalogs and they can't focus on everything," he said in a statement, as quoted by Bloomberg. "We work together with Universal (Music Group) and KISS, even though we will own the artists rights, and we're doing it in conjunction with Kiss. But yes, we bought all rights, and that's not something I've seen that clear before."
Meanwhile, in a press release, Simmons said they prefer "collaboration" over "acquisition."
"Collaboration is exactly what it's about. It would be remiss in our inferred fiduciary duty -- see what I just did there? -- to the thing that we created to abandon it," he added.
The catalog contained KISS's most iconic songs, including "Rock And Roll All Nite," "Detroit Rock City," "Deuce," "God Of Thunder," and "Love Gun," among many others.
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