Julian Casablancas has sold a stake in The Strokes' catalogue.
The 'Last Nite' hitmaker has sold a portion of both publishing rights and masters rights to Primary Wave for an undisclosed sum, though it is unclear how big a share the company have purchased.
A spokesperson for Primary Wave said the deal only includes the singer's rights from the band, not his other projects, including his solo material and other band the Voidz.
David Weitzman, partner at Primary Wave, said in a statement: “Primary Wave is thrilled to partner with Julian Casablancas for his works in The Strokes.
"Julian’s extraordinary talents as a songwriter, singer, and leader infuse the magic that is The Strokes.
"The Strokes are one of the most important bands of this century and are beloved by a multi-generational audience who have made them a global festival headliner.”
Julian is the latest in a string of big-name stars to sell the rights to their music to companies such as Primary Wave and Hipgnosis Song Management.
Last week, Justin Timberlake struck a deal with Hipgnosis Song Management - which was founded by Merck Mercuriadis and Nile Rodgers in 2018 - to sell his back catalogue for $100 million.
He confirmed the news in a statement, which read: "I am excited to be partnering with (Hipgnosis founder and chief executive Merck Mercuriadis).
"He values artists and their creative work and has always been a strong supporter of songwriters and storytelling. I look forward to entering this next chapter."
Merck added: "Justin's incredible catalogue will join other amazing works at Hipgnosis which we know will serve as a great steward of his work. We look forward to a great partnership between Justin and Hipgnosis."
An exact figure for the sale has not been released, but The Wall Street Journal reports the deal could be worth in excess of $100 million.
Justin follows in the footsteps of other stars including Shakira and Neil Young, who both sold off chunks of their back catalogue to the same company earlier this year.
Shakira sold off her entire body of work for an undisclosed sum while Neil parted with 50 percent of his recordings for an estimated $150 million.
Stevie Nicks was reportedly paid $100 million at the end of 2020 after selling a stake in her publishing rights to Primary Wave.