Now rapper Wiz Khalifa has followed suit...
From Variety
Wiz Khalifa‘s chart-topping titles “See You Again,” “Black & Yellow,” “The Thrill,” and countless others have been acquired in a new deal with HarbourView Equity Partners. Terms of the transaction were not disclosed though HarbourView was said to have purchased “select” recorded music and publishing assets.
Khalifa’s independent record, management company and lifestyle brand Taylor Gang has partnered HarbourView for the deal. Said Khalifa, “Sherrese [Clarke Soares, founder and CEO of HarbourView] and HarbourView truly understand the value of music and artistry. We are excited to partner with them as they continue to build a dynamic media company that is in line with the values and goals we all have here at Taylor Gang.”
HarbourView has been extremely active since launching in 2021, acquiring a portfolio featuring thousands of titles across numerous genres. Their latest acquisition was the recorded-music assets of Grammy-winning rapper-singer Nelly, Variety independently confirmed. The deal included half of Nelly’s recorded music such as “Ride Wit Me,” “Dilemma” featuring Kelly Rowland, and “Hot in Herre,” both of which topped the Billboard Hot 100 for multiple weeks.
7 comments:
Nice
Get it Wiz.
Everyone is selling their music. Too bad people can’t figure out how to sell (hustle) their own music but keep the rights so they can keep on selling it. They don’t need a middle man. I wonder who will be the first to do it.
Half that money gonna be spent on weed.
Yea, how long before he sells the 2nd half? Hope he uses it right to live over decades.
AAAaaaahhhh how many hit songs does he have that's worth purchasing? I'll take a nap and come back for the answer. LOLOL
I am not a big fan of selling masters or ownership interest unless it makes sense to do so and I don't know what his situation is like I think he did a lot young and this may be a second chance to manage a fortune more correctly and if the rumors are true he is getting a second chance with the love of his life and maybe he wants to make sure no financial issues interfere with things not sure how true it is but it's been said also that his financial situation in the past was the source of a very big issue that exacerbated the rift between him and this same past love. I am not a fan again however I am a fan if it's a case of giving to get and selling 50% of his catalogue out right doesn't seem on appearance to be a good deal for him. He may be able to eat off of that deal and if handled properly whatever proceeds he reaped from such a deal could set him and future generations up for a comfortable existence I hope he did not do this deal just to repair a past misstep with his finances and to make sure he could right that wrong this go round. If he did in fact sell a 50% interest in his entire catalogue that to me would have been the best deal because no one is going to pay to get half of an asset they don't plan on exploiting if he sold 50% of his catalogue and they then go about the business of exploiting the contents of that catalogue that would be the best case scenario he would in fact receive some upfront payment and most likely at some point in time begin to get 50% of the revenues generated from the exploiting of the contents of the catalogue. That usually takes place the (50/50 profit sharing) after the buyers have recouped all or a portion of the initial payout to him that amount is usually determined by how shrewd of negotiators he and his team are. I hope he did not go for the okie doke and hand over sole ownership of half of his catalogue in hopes their exploitation of that half would create a demand for him and a steady stream of live performances as long as the catalogue is being exploited properly granted he is receiving the upfront compensation he is still not guarantying any revenue after his productive years and/or life he would be giving up any rights to half of his catalogue for what a promoter and publisher could have done for him and still retained 100% ownership.
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