British artist Sir Rod Stewart, known for his hits such as Have You Ever Seen The Rain (1970), among others, announced he is selling the rights to his music catalog to the company Iconic Artists Group for nearly $100 million.

The company owned by Irving Azoff said in a statement that the purpose of acquiring Stewart's discography is "to develop and expand his six-decade musical legacy to new generations of fans."

The British singer said, in statements reported by People magazine, that it was the right time to sell his rights. This year marks his sixth decade in the music industry:

Stewart is the latest to join the list of artists who have decided to sell their music rights. They hope it will make their creations last. Others who also did so were Katy Perry, Keith Urban and Justin Bieber, among others.