Domain Capital Group has acquired the major recording and publishing catalog of four-time Grammy-nominated rapper-songwriter Iggy Azalea in an “eight-figure” deal.
The deal, I mentioned before Female rap roomI was has been confirmed By the Australian artist in response to the newsletter tweet which said it “sold its master recording and publishing catalog to Domain Capital for an eight-figure sum” (which ranged from $10 million to $99 million).
The news comes after Domain announced earlier in the month that it had closed a $700 million funding round.
“I sold part of my catalog to whoever I wanted, for a sum that meant I didn’t have to work another day in my life.”
A tweet from Azalea says the transaction includes a major publishing stake for her biggest hits like imaginary problem, And the Black Widow.
“I sold part of my catalog to whomever I wanted, for a sum that meant I didn’t have to work another day in my life,” said Azalea.
The artist also responded to a Twitter user’s concern about the deal she ended up in as Taylor Swift’s professors controversy with her former record label Big Machine Records and her new owner Scooter Braun.
“Taylor didn’t benefit from this sale… I love you all but the conversation of the professors is a bit beyond most of your understanding of the business,” says Azalea.
Azalea also responded to other tweets, including her decision to sell her catalog now, saying, “I have a bigger business that I want to invest in.”
The 32-year-old artist, born Amethyst Amelia Kelly, has her own label called Bad Dreams. She also has a management deal with Sony Music Publishing.
Last year, Azeala announced that she was quitting music saying her album was EDM-heavy end of an eraIt will be her last album. But a year later, the rapper changed her mind, say: “I’m coming back. You cry about it.”
The sale of Azalea’s catalog comes just weeks after Domain Capital and its subsidiary, Domain Capital Advisors (DCA), disclosed that they had closed more than $700 million in equity commitments for a new entertainment fund and mutual investment vehicle focused on films, television, and music.
Domain said earlier that it has already deployed more than $170 million of this new fund of deals across entertainment media.
Earlier this year, the company teamed up with Sony Music Publishing for an extended catalog from multi-award-winning songwriter Ashley Gorley, who according to Music business around the world Sources, worth $40 million.
Announcing the new $700 million investment earlier this month, Domain Capital CEO Anthony said: “At a time of sustained growth in the entertainment industry supported by an ever-evolving channel landscape, we are focused on building a diversified asset base in order to generate revenue. cash and help preserve the capital of our investors.”
Music business around the world