Yep.  That's effectively what many bands do when they sign publishing or recording deals.  In return for a writer's credit and a royalty, they surrender copyright to their recordings and the songs contained therein.

Of course, anyone with sense would hold out for a licensing deal instead, since the artist then retains copyright and is free to take the recordings elsewhere after a fixed term.  In the past 30 years or so, many well established acts (Bowie, Stones, Paul McCartney and many more) have set about buying back the rights to their back catalogue.

Coppula eam se non posit acceptera jocularum.

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