Iggy Azalea confirms ‘eight-figure’ catalog sale to Domain Capital
Earlier this month, Domain Capital announcement that he secured $700 million in “equity commitments” for an entertainment fund. Today, the company bought Iggy Azalea’s catalog “for an eight-figure sum”, according to the 32-year-old artist.
News of this latest multimillion-dollar song rights sale broke via The Female Rap Room today, and Iggy Azalea confirmed the deal by responding to the outlet’s tweet about the deal. “I told them,” the Sydney native replied to a fan who asked how the site was so quick to write about the deal.
(The Female Rap Room debuted in 2020 and describes itself as “an innovative space that documents and celebrates female rappers.”)
Although Domain Capital doesn’t appear to have acknowledged the investment in an official release at the time of this writing, the piece is said to encompass the “Posh Spice” creator’s recorded and published catalogs. Likewise, while the precise sum behind the buyout hasn’t been publicly identified, Azalea did indicate in one of several tweets about it that the resulting windfall means she doesn’t “have to work a other day”.
“Taylor did not profit from this sale”, Azalea replied the concerns of a supporter (resulting in particular from Taylor Swift’s highly publicized rights battle) about the recently unveiled deal. “I sold part of my catalog to whoever I wanted, for an amount that saved me from having to work another day in my life. I love you all, but the conversation of the masters is a little beyond your understanding of business.
And when asked about the timing of the decision to cash in on the rights to the song, the “Fancy” singer and songwriter replied simply, “I have a bigger business I want to invest in.” Of course, time will reveal the details associated with these broader business plans for Azalea, which fans seem to be eagerly awaiting for its next release.
More broadly, the sale of the four-time Grammy nominee’s catalog represents one of many song rights deals that materialized in 2022.
GMB, tank mediaand primary wave have pumped millions into IP music in the past month alone, and the latter company is poised to announce hundreds of millions of dollars in additional purchases before the end of 2022, executives say.
Meanwhile, it is said that BMG still be in the running to purchase Pink Floyd’s catalog despite a months-long delay resulting from disputes between band members and uncertainty surrounding the precise rights at hand. Despite this reported interest, it’s unclear if the long-running deal will go through.