As renowned artist you can earn a living with making music. Often everybody looks at record deals, concert revenues and merchandise, and often, a trademark registration will be seen as only costs.
But these trademark registrations are needed to give your name in license. And more importantly, to protect your name against abuse and counterfeit. We know the example of a band who played at a venue and saw some illegal merchandise outside. They asked the vendors to leave pointing on the protection of their name. The smart vendors were prepared and just backfired and asked which trademark registration they particularly had (none).
Moreover, the name of a well-know artist is worth a lot of money. You have some examples that these names are registered in bad faith. Like the name of hiphop artist and DJ Grandmaster Flash who found out recently that his name was registered in the EU. And not by him. So he filed a cancellation action based on the argument that this trademark was filed in bad faith. He won, but with a trademark registration this would be a much easier and cheaper.
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