Iggy Azalea is the latest musician to sell the rights to her master recordings and publishing catalog.
According to Billboard, sources confirmed that the rapper struck a deal with Domain Capital Group to sell all the shares to her catalog. It’s unclear how much she earned, but insiders say it was an “eight-figure deal.”
Iggy took to Twitter to address the reports, including comparisons of her catalog sale to Taylor Swift’s controversial deal. The rapper emphasized that Taylor “did not profit” in her case, whereas she did.
“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,” Iggy wrote.
“I love y’all down but the masters conversation is a little beyond most of your understanding of business,” she continued.
The musician was subsequently asked by a follower why she decided to sell her musical catalog. Iggy hinted that her record label – Bad Dreams – needs more of her focus. “I have a larger business I want to invest in,” Iggy replied. She also told fans that she’s “aiming to drop a [new] project” sometime next year.
The new project likely isn’t music, as Iggy revealed last year her plans to step away from making new releases.
After dropping her last album End of an Era in August 2021, she tweeted, “‘End of an Era’ is so special to me because after I drop my album next month i am going to take a few years to focus on other creative projects and things I’m feeling passionate and inspired by, beyond music.”
Iggy added, “I’m excited for you guys to see different sides to me in the future.”
The rapper isn’t the only celebrity to recently part with their publishing rights.
Earlier this year, Bob Dylan sold his song writing catalog for an undisclosed amount, though it’s rumored to be in the hundreds of millions. Justin Timberlake followed suit in May 2022 when he sold his hits for $100 million.
Songwriter Skylar Grey (who has worked with artists like Eminem, Rihanna, and Justin Bieber) sold her catalog in June, admitting she did so to pay for her expensive divorce.
Moreover, Bruce Springsteen famously sold his catalog in 2021 for a whopping $500 million.
But not every musician is interested in trading in their musical catalog for a pay day. In August, Madonna assured fans that she’ll never sell the rights to her work.