Rapper sells for eight figure sum
Australian rapper Iggy Azalea has sold her master recording and publishing catalog to the Atlanta-based Domain Capital Group for an eight figure sum. The deal, first reported by Female Rap Group, includes her biggest hits, “Fancy,” “Proble,” and “Black Widow.” A source close to the deal tells Billboard that “an additional trigger” will allow the performer to earn future revenue from her masters.
Azalea confirmed the news last week on social media by replying to a tweet about the deal.
“I sold a portion of my catalog to who I wanted, for an amount that means I don’t have to work another day in my life,” she shares.
Azalea commented after a fan expressed concern hoping Azalea “doesn’t end up like [Taylor Swift]” who left her longtime label without having control over her masters.
“Taylor did not profit from that sale,” she adds in response. “I love ya’ll down but the masters conversation is a little beyond most of your understanding of business.”
The news comes weeks after Domain Capital Advisors secured more than $700 million of equity commitments for an entertainment fund and co-investment vehicle focused on film, television and music, with an allocation for other related investment opportunities. DCA’s media and entertainment group specializes in a wide range of assets including digital media, feature films, television, literary works, music publishing and recording rights, and theatrical productions. The fund also participates in long-term partnerships in a variety of structures in order to support the creation of new content.
https://twitter.com/IGGYAZALEA/status/1594754479337132032
