Foreigner co-founder Mick Jones sells catalogue stake to Primary Wave
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Primary Wave Music has struck a deal with Mick Jones, co-founder of the rock band Foreigner, acquiring a stake in his music assets covering publishing, master recordings, touring, and name, image and likeness rights. Although the financial terms were not disclosed, Primary Wave typically buys a majority stake, which in this case likely includes Jones's publishing and his share of Foreigner's artist royalties from the band's hit albums, as well as a stake in later albums he owns. The deal reflects the continuing appetite among investment firms for the catalogues of established heritage artists whose music retains strong commercial value.
As part of the agreement, Primary Wave's marketing and publishing teams will work alongside the band's management on new branding, digital, synch, and film and TV opportunities. Foreigner — whose hits include "I Want to Know What Love Is", "Juke Box Hero" and "Cold as Ice" — has amassed more than 80 million album consumption units globally across nine studio albums, 11 live albums and 16 compilations. The catalogue remains commercially active in the US, rising from roughly 340,000 consumption units in 2024 to 375,000 in 2025 and a projected 400,000-plus this year. The tie-up coincides with the band's 50th anniversary celebrations, including a live album and film, In the Eye of the Storm Live, due out on 24 July.
- Mick Jones sells a stake in his Foreigner catalogue to Primary Wave.
- Deal covers publishing, masters, touring and image rights; terms undisclosed.
- Foreigner's catalogue tops 80 million album units and is still growing.
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Foreigner is a rock band formed in the mid-1970s, known for hits such as "I Want to Know What Love Is", "Juke Box Hero" and "Cold as Ice". Mick Jones, one of its founding members, has built up rights over decades to the songs and recordings, including publishing rights, master recordings, and a share of royalties earned when the music is played, licensed or performed.
Primary Wave Music is an investment company that buys stakes in music catalogues from artists and songwriters, then works to generate income from them through licensing for adverts, films, TV shows and other uses. It has become one of several firms competing to acquire rights to older, well-established songs, which tend to earn steady, predictable income because they remain popular over long periods.
This kind of deal has become increasingly common in the music industry, as artists look to cash in on the value of their back catalogues while investment firms seek reliable, long-term returns from music that already has a proven audience. Foreigner's music continues to generate significant listening activity, which is part of what makes catalogues like Jones's attractive to buyers.
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Originally published by Billboard as “Foreigner’s Mick Jones Strikes Catalog Deal With Primary Wave”.