Metro Boomin Gains $70 Million Selling Part of Catalog
Written by djfrosty on March 9, 2023
Source: WWD / Getty
Metro Boomin has joined the ranks of musical artists selling their publishing catalogs, recently making a deal that earns him $70 million.
According to reports, the producer behind hits from Migos, Kanye West, and Future has sold off part of his existing publishing catalog to the Shamrock Capital firm. Sources with knowledge of the deal estimate that the “Jumpman” producer received close to $70 million. Representatives for Metro Boomin’ declined to comment on the transaction, and Shamrock Capital didn’t respond to press inquiries.
News of the deal comes as Metro Boomin’ has recently released a new album, HEROES & VILLAINS. The album contains features from Takeoff, Future, Chris Brown, 21 Savage, and The Weeknd. The deal is only for “part” of the catalog, but there is no information as to what that includes.
Music catalog purchases have held the attention of those in the music industry as well as observers. Last month, reports stated that the estate of the late superstar Michael Jackson is planning to sell half of its interests in his music catalog for an estimated price of $800 to $900 million. Hip-Hop artists are now finding themselves in the eyesight of interested firms – Dr. Dre sold a collection of music streams and other assets to Shamrock Holdings and Universal Music Group for a sum close to $250 million.Justin Bieber has also taken the plunge and sold the rights to his music catalog in January for an estimated $200 million.
The discussion over artists’ catalogs and Hip-Hop have also been in the spotlight due to the recent arrival of the entire catalog of the iconic group De La Soul last Friday (March 3rd). The catalog had been withheld from digital streaming platforms for years in a fight with their label, Tommy Boy Records and its parent company, Warner Music Group. In addition, the Quality Control independent label which is home to Migos, Lil Yachty and Lil Baby was acquired in a major deal by the South Korean entertainment firm Hybe America for $320 million.