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Iggy Azalea Confirms ‘Eight-Figure’ Catalog Sale to Domain Capital

Iggy Azalea Confirms ‘Eight-Figure’ Catalog Sale to Domain Capital

Earlier this month, Area Capital introduced that it had obtained $700 million in “fairness commitments” for an leisure fund. Now, the corporate has bought Iggy Azalea’s catalog “for an eight-figure sum,” in line with the 32-year-old artist.

Phrase of this newest multimillion-dollar song-rights sale broke by way of The Feminine Rap Room right this moment, and Iggy Azalea confirmed the deal by responding to the outlet’s tweet pertaining to the transaction. “I advised them,” the Sydney native replied to at least one fan who inquired about how the positioning was so fast to jot down concerning the settlement.

(The Feminine Rap Room debuted in 2020 and describes itself as “an revolutionary area that paperwork and celebrates feminine rappers.”)

Whereas Area Capital didn’t look to have acknowledged the funding in a proper launch on the time of this writing, the play reportedly encompasses the “Posh Spice” creator’s recorded and publishing catalogs. Equally, although the exact sum behind the buyout hasn’t been publicly recognized, Azalea indicated in one among a number of tweets on the matter that the ensuing windfall means she doesn’t “must work one other day.”

“Taylor didn’t revenue from that sale,” Azalea responded to at least one supporter’s issues (stemming particularly from Taylor Swift’s much-publicized rights battle) concerning the newly unveiled deal. “I bought a portion of my catalog to who I needed, for an quantity which means I don’t must work one other day in my life. I like y’all down however the masters dialog is slightly past most of your understanding of enterprise.”

And when requested concerning the timing of the choice to money in on the music rights, the “Fancy” vocalist and songwriter responded merely: “I’ve a bigger enterprise I wish to put money into.” After all, time will reveal the main points related to these wider enterprise plans of Azalea, whose followers look like reasonably eagerly anticipating her subsequent launch.

Extra broadly, the four-time Grammy nominee’s catalog sale represents one among many song-rights transactions which have come to fruition in 2022.

BMG, Reservoir Media, and Main Wave have injected hundreds of thousands into music IP throughout the previous month alone, and the latter enterprise is poised to announce tons of of hundreds of thousands of {dollars}’ price of extra purchases earlier than 2022’s conclusion, in line with execs.

In the meantime, BMG is alleged to nonetheless be within the working to purchase Pink Floyd’s catalog regardless of a months-long holdup stemming from disputes between bandmembers and uncertainty surrounding the exact rights at hand. However this reported curiosity, it’s unclear whether or not the long-rumored deal will shut in any respect.