Iggy Azalea Sells Masters and Publishing in Eight-Figure Deal – Report
Iggy Azalea has reportedly sold her publishing and masters in a deal that is said to be worth eight-figures.
On Monday (Nov. 21), Billboard reported the "Fancy" rapper is cashing out by transacting the rights to her musical catalog to Domain Capital Group. Iggy's body of work includes the LPs The New Classic, In My Defense and The End of an Era. She's also released the EPs Glory, Change Your Life, Survive the Summer and Wicked Lips. In 2019, she started he own label called Bad Dreams. The deal includes the Billboard chart-topping single "Fancy" featuring Charli XCX and other Iggy hits like "Black Widow" featuring Rita Ora and "Problem" featuring Ariana Grande, and has the potential to earn the Aussie MC future revenue.
Earlier this month, DCG announced a $700 million commitment to acquiring rights to film, television and music assets.
"We are excited to launch our first diversified private entertainment royalty fund," said Anthony Tittanegro, executive managing director of Domain Capital Group in the release. "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."
XXL has reached out ot Iggy Azalea's team and Domain Capital Group for comment.
More and more rappers are beginning to sell their masters for big lump sums. Future recently sold the majority of his publishing in a deal reported to be worth around $75 million earlier this year. Chuck D reportedly sold a large portion of his Public Enemy catalog publishing rights this year. In 2019, investment company Hipgnosis Songs Fund Limited bought the rights to Timbaland's catalog. They also bought up a majority stake in The-Dream's catalog for $23 million in 2018. In September, it was reported Kanye West was selling his publishing. However, Ye denied the claims.