Lots of artists have been selling parts of their catalogs for some big paydays lately, including Future, Iggy Azalea, and Juice WRLD. They all have various reasons for doing so, but I don’t think too many folks are turning down the opportunity to make more money all at once than most people could ever accumulate — or spend — in a lifetime.
The latest artist to join this growing trend is Metro Boomin, who reportedly sold part of his recording catalog to Shamrock Capital for $70 million, according to Billboard. There aren’t many details, however, as both sides of the deal declined to comment.
The size of the deal makes sense, though; depending on which portion of his publishing he decided to sell, Metro’s catalog of hits is extensive and deep, with smash hits from 21 Savage, Drake, Future, Kanye West, Migos, and more littering his resume. He’s had nearly enough songs chart on the Hot 100 to actually fill it (99 total). His own albums, like December’s Heroes & Villains, have also been massive successes in their own rights.
According to Billboard, Shamrock was founded in 1978 as Roy E. Disney’s family office; it’s also a pretty heavy investor in IP, buying catalogs from Dr. Dre and Taylor Swift, while looking at branching into film, TV, sports, and video games. It’s one of a handful of such businesses, which also include Opus Music Group and Influence Media Partners.