Rapper Iggy Azalea says she’s sold a portion of her music catalog for “eight figures,” adding, “I don’t have to work another day in my life.”
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According to Billboard, a “source close to the deal” said that the artist sold her master recordings and publishing catalog to Domain Capitol Group and it included all of Azalea’s shares in her current catalog. In addition, a “trigger” for future money on masters was also part of the deal. The Billboard piece said it was for “eight-figure[s].” But the exact total has not yet been reported.
The lyricist talked about the deal on Twitter, clapping back against a comparison to Taylor Swift, who Azalea said “did not profit” from her deal.
She wrote in full, “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.”
She added, “It means that a portion of songs I sold to a company who now owns them. In exchange, they paid me what they would have earned in my lifetime, upfront in one lump sum.”
To those claiming she didn’t write her songs, she responded, “Literally. Also didn’t I not write those songs? But wait – I just sold them for 8 figures? So I guess I did write them after all…. Lmao. Like. Just be talking for years not knowing.”
One Twitter user asked the Australian rapper why now, to which she answered, “I have a larger business I want to invest in.”
Azalea has also said she plans on dropping a new album in 2023. Azalea, who released her third studio LP last year, The End Of An Era, wrote later this summer she was returning for more. “I’m going back,” she wrote on her social media. “Cry about it.”
Regarding her new project, she wrote on Twitter, first saying no to a new tour but yes to a new album, “Not in 2023 ’cause my back literally needs a break. Lollllll But I’m aiming to drop a project instead!
See the tweets below.
Photo by Grant Halverson/Getty Images
