David Paton, known for writing 'Magic' in 1974, has gained financially from Novo Nordisk's use of his song as the theme for Ozempic's advertising. This strategic move has potentially earned him millions, showcasing the economic impact of effective marketing strategies.
Investors and music companies are drawn to purchasing back catalogs of artists, evident through deals like Bruce Springsteen's reported $500 million agreement. This investment trend, including lesser-known artists' catalogs, saw over $5 billion in song trades in 2021 and continues post-pandemic.
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