Famed Producer Sells a Portion of His Catalog to Shamrock Capital.
Metro Boomin has reportedly made $70 million by selling a portion of his publishing catalog to Shamrock Capital. The details of the sale are unknown as neither side has commented on the matter.
The award-winning producer has an extensive catalog of hit songs, including chart-topping tracks such as Migos’ “Bad and Boujee,” Future’s “Mask Off,” and Kanye West’s “Father Stretch My Hands”. As a producer, Metro Boomin has a total of 99 entries on the Billboard Hot 100 chart, with two No. 1s and 10 Top 10s.
He also became the first non-rapping Hip Hop producer to surpass 50 million monthly listeners on Spotify in January, thanks to the success of his second album, HEROES & VILLAINS.
In December of last year, Metro Boomin released his second studio album, which debuted at No. 1 on the Billboard 200 after earning around 185,000 album-equivalent units in its first week. The album features several notable artists including Future, Travis Scott, A$AP Rocky, 21 Savage, and The Weeknd.
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Recently, a number of Hip Hop artists have been selling portions of their publishing rights for large sums of money, including Future and Iggy Azalea, who both earned eight figures in exchange for ownership of their publishing rights in 2022. Zaytoven also reportedly sold 560 songs written between 2005 and 2022, including hits from Migos, Travis Scott, Lil Wayne, and 21 Savage, although the amount of the sale has not been disclosed.
According to a report by Billboard, Dr. Dre was in the process of negotiating two deals in early January to sell a portion of his music income streams and assets to Shamrock Holdings and Universal Music Group. The deals, which were being facilitated by Dre’s longtime attorney Peter Paterno, were initially pitched for a combined total of $250 million. Although the final sale price hasn’t been disclosed, a source close to Dr. Dre has stated that it will still be “well above $200 million.”
In addition to Dr. Dre, Juice WRLD’s estate also reportedly sold off the majority of the late rapper’s catalog in a nine-figure deal negotiated earlier this year.
