Dr. Dre will reportedly be the latest entertainer to sell the rights to their music catalog.
According to TMZ, the rapper is currently negotiating out a deal to transfer the rights to some of his royalties and master recordings. The key word is some, as it’s being reported that Dr. Dre isn’t looking to offload his full catalog, though the price tag would suggest otherwise.
Dr. Dre will reportedly receive over $200 million in total for the deal, which will pad his net worth. It’s unclear exactly how much Dr. Dre is worth, but estimates suggest it’s anywhere from $500 million to $850 million.
It’s being reported that Dr. Dre plans to close two separate deals – one with Universal Music, and another with Shamrock Holdings.
He apparently plans to sell the royalties from two of his most well-known solo albums in addition to “his share of N.W.A. artist royalties, plus his producer royalties and the writer's share of the music where he doesn't own publishing rights,” TMZ explains.
With Universal Music, Dr. Dre plans to transfer the rights to his album “The Chronic” in addition to some of his shares in Kendrick Lamar’s music.
Dr. Dre isn’t the only artist recently to strike up a nine-figure deal for their music catalog. Last month, it was reported that Justin Bieber is finalizing a deal worth around $200 million.
The former teen idol is apparently in negotiations with Hipgnosis Songs Capital, and this will likely be the company’s biggest acquisition yet. Currently valued at $285 million, Justin stands to double his net worth from the huge deal.
Justin Timberlake made a similar move in early 2022 when he sold his publishing rights for $100 million, also to Hipgnosis Songs Capital.
Iggy Azalea, too, opened up about selling her music catalog for an undisclosed amount recently. Reports say that it was likely an eight-figure deal.
“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,” she tweeted. “I love y’all down but the masters conversation is a little beyond most of your understanding of business.”
Iggy previously said she planned to take a step away from music to pursue other projects, and promised (a likely reference to the independent record label she founded).
Perhaps one of the biggest music rights acquisitions was when Bruce Springsteen sold his catalog for $500 million in 2021.
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