Iggy Azalea is set to rake in billions and not worry about lifting a finger for a long time after signing a recent deal.
The star, who has already sold millions in records worldwide as an artist since her debut, decided to take an even more significant step at filling her bank account by selling the master recording and publishing catalog of her work at eight figures.
Iggy Azalea Confirms Sale Of Her Musical Catalog For Large Sum
The rapper interacted with some of her fans on Twitter and answered a concerned user’s question about the recent signing. “I just hope she doesn’t end up like Taylor (no shade at all, just using it as an example),” the person wrote to which the “Problem” hit-maker responded:
“Taylor did not profit from that sale. 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.”
The “Work” artist noted that although she really loves her fans, the conversation about “masters” ownership was a lot more beyond their scope of understanding business. That might be the case considering the fact that, according to Billboard, she did not actually sell her rights to the music.
It was reported that she traded the master and publishing share of some of her biggest hits like “Fancy (featuring Charli XCX),” “Black Widow (featuring Rita Ora),” and “Problem (with Ariana Grande).”
The vast-reaching deal was brokered by her manager Reece Pearson and her attorney Peter Paterno and sold to Domain Capital. It includes a hundred percent of the 32-year-old’s share of her existing catalog alongside a failsafe for Azalea, which ensures that she can earn more revenue on master recordings in the future.
Taylor did not profit from that sale.
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.
I love y’all down but the masters conversation is a little beyond most of your understanding of business.— IGGY AZALEA (@IGGYAZALEA) November 21, 2022
The three-time “Billboard Music Awards” winner’s expansive discography includes “Surviving the Summer (EP),” “The New Classic,” “In My Defense,” and “The End of an Era.” Previously under the labels “Virgin EMI” and “Island Records,” she left after a few disagreements and has since founded her own label “Bad Dreams.”
Azalea’s music was initially distributed by “Empire,” but the mother-of-one is now in the middle of closing a new deal with another company while retaining her publishing deal with Sony Music Publishing.
Despite selling off her shares of her old music, the fact that she owns her own label means that the master and publishing of any new music released from the first quarter of next year belongs to her one hundred percent.
Fans can expect to hear some new tunes for the Australian native, who is said to be working on a new album set for release in the coming year.
‘Wicked Lips’ Rapper Addresses ‘Haters’ Concerning Musical Comeback
It is definitely allowed to change one’s mind after making a decision which is what Azalea did after announcing that she was leaving the industry last year after the release of “The End of An Era” project. The Blast shared that she put the naysayers in check with a statement posted to her Twitter page.
After not releasing any song for a whole year, she released a statement writing, “A year ago, I was willing to walk away from music because I was tired of the negative energy it attracted.”
The “In My Defense” rapper added that she had learned the painful lesson that even when she would be minding her business, people would still be “negative AND nosey.” Concluding the “MTV Video Music Award” winner stated emphatically, “So if I can’t have peace, neither can you. I’m coming back. Cry about it.”
Her revelation got her followers buzzing in the comment section with one writing, “she saw that nobody can make twerk songs better than her and had to come back, period.”
Other comments included, “we been waiting, girl come thru,” “Say it louder, Queen. I’m so excited and happy for you,” “right, Iggy back, no playtime 🙆🏼♀️💓,” “I was so damn sad when you said that but respected you enough to be ok with it! SO HAPPY TO KNOW THAT THERE’S MORE TO COME 🥰🤩 YOU A SUPERSTAR!!!.”
Some of her fans suggested possible collaborations between the rapper and colleagues like Cardi B, Kesha, and even Nicki Minaj.