Future Sells Music Publishing Catalog In Eight-Figure Deal
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Future has sold the publishing rights of his music catalog to Influence Media Partners in a deal that has earned the rap star at least $10 million. The music and entertainment platform, which is backed by asset manager BlackRock and Warner Music Group, will now own the rights to the publishing royalties of 612 songs featuring Future’s songwriting credit from 2004 to 2020.
According to Billboard, the financial terms of the agreement have yet to be disclosed, but the rapper is believed to have received between $65-$75 million for his catalog. That figure is based on the 38-year-old artist’s master recording catalog, which has earned him an estimated $4.4 million in publishing royalties over the last three years.
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The acquisition’s price tag also takes into account the average net publishers’ share, which may range between 15-17 times the annual average earned in royalties from top rap stars’ publishing. However, the NPS (or gross profit) of Future’s catalog was traded for has yet to be revealed.
Upon news of the sale, the Atlanta native addressed his decision to close the deal with Influence Media and the importance of having his catalog under the management of a partner he trusts. “I put everything into my music, and I wanted to make sure these were in good hands as I thought about the next chapter of these songs,” he said in a statement. “I’m proud to partner up with Rene and the team at Influence Media and send a signal that this music has timeless value. My music is my art, and these songs represent some of the most precious artwork of my career.”
Influence Media partner and founding advisor Rene McLean echoed Future’s sentiments. “Future is a cultural icon,” McLean said. “He continues to be a blueprint for impact and success in the music industry and has reinvented music in ways that no one has ever expected. It is rare to find someone who moves music and culture at the same speed with his distinct vocal and melodic style. His prolific career and continued popularity more than 15 years into the game is a testament to his undeniable influence on the contemporary music and culture landscape.”
Under the agreement, Influence Media Partners will hold Future’s publishing rights to an array of his biggest hits and collaborative efforts. This includes nine songs that reached the Billboard Hot 100 and two chart-toppers like “Way 2 Sexy,” his collaboration with Drake and Young Thug, and the Drake and Tems assisted smash “Wait For U” from his latest studio album, I Never Liked You.
