Russ explains the ownership percentage of artists’ catalogs.
While there are rumours about Justin Bieber nearing a deal to sell his music rights to Blackstone-backed Hipgnosis Songs Capital for around $200 million, Russ explains the percentage of artists’ music catalogs.
“How come the general public thinks artists own 100% of every song they’ve ever made? When artists sell their catalogue, they’re selling THEIR ownership of it. A lot of these ppl own the minority of their hits cuz all they did was sing/rap them. Someone else wrote/produced them,” he wrote.
How come the general public thinks artists own 100% of every song they’ve ever made? When artists sell their catalogue, they’re selling THEIR ownership of it. A lot of these ppl own the minority of their hits cuz all they did was sing/rap them. Someone else wrote/produced them.
— RUSS (@russdiemon) December 22, 2022
The Independent artist then states it clearly that his catalogue is not for sale. “My catalogue is not for sale because IN MY OPINION, music is an extension of the soul so selling the RIGHTS away of my music is the epitome of selling my soul. I’m not letting some random company own my soul and my creations. Plus I’ll make more $ in perpetuity by keeping it.”
My catalogue is not for sale because IN MY OPINION, music is an extension of the soul so selling the RIGHTS away of my music is the epitome of selling my soul. I’m not letting some random company own my soul and my creations. Plus I’ll make more $ in perpetuity by keeping it.
— RUSS (@russdiemon) December 22, 2022
“Now idk anyones situation so if you feel like it makes sense to sell your catalogue, rock out. I just wanted to clear the air on why I turned down the offer cuz I keep seeing blogs post about it so I wanted to use the moment as an opportunity to inform and provide insight,” he wrote in another tweet.
Now idk anyones situation so if you feel like it makes sense to sell your catalogue, rock out. I just wanted to clear the air on why I turned down the offer cuz I keep seeing blogs post about it so I wanted to use the moment as an opportunity to inform and provide insight.
— RUSS (@russdiemon) December 22, 2022
It means if your catalogue is worth $500M but you only own 10% of it then no one is boutta offer you $500M
They can only purchase what the seller owns https://t.co/iPhVZPJLAK
— RUSS (@russdiemon) December 22, 2022
On his new song “Too Much,” which was released earlier this month, the rapper discussed the offer. “Burnt out/Fifty-million for the catalog, I turnt down/I’m makin’ money every second, you should learn how/These pups barkin’ at a wolf, why would I turn ’round,” he raps a few lines into the song’s first verse. The rapper also mentioned the $50 million offer on TikTok, comparing it to petty coin, and said that agreeing would be comparable to selling his soul.
