It has been reported that rapper Iggy Azalea has sold her publishing and master recordings in an eight-figure deal, although the finer details of the transaction are yet to be announced.
Yesterday, on November 21st, Billboard wrote that the Australian musician is set to bank a substantial sum after selling the rights to her back catalogue to Domain Capital Group (DGC). Notably, Iggy’s discography includes the albums The New Classic, In My Defense and The End of an Era. Added to this, her EPs are, Glory, Change Your Life, Survive the Summer and Wicked Lips. Notably, in 2019, Azalea decided to go it alone and founded the Bad Dreams label.
However, the new deal includes her biggest hits, including 2014’s ‘Fancy’ with Charli XCX, ‘Black Widow’ featuring Rita Ora, and ‘Problem’, a collaboration with Ariana Grande.
Interestingly, it has been pointed out that earlier this month, DGC announced a $700 million deal for a commingle entertainment fund that has acquired the rights to film, television and music assets.
“We are excited to launch our first diversified private entertainment royalty fund,” Anthony Tittanegro, executive managing director of Domain Capital Group explained in the company’s press release regarding the deal. “At a time of sustained entertainment industry growth supported by an ever-evolving landscape of distribution channels, we are focused on building a diversified asset-base to generate cash yield and help maintain our investors’ capital.”
Iggy Azalea, her team, and DGC have yet to comment on the deal. However, it does follow a recent trend of the most prominent artists selling the rights to their back catalogues for significant lump sums.
Notably, at the end of September, rapper Future sold his back catalogue of his work from 2004 to 2020 to an investment firm in another eight-figure deal, which followed the likes of Bob Dylan and Imagine Dragons.