The latest artist to join the trend of selling his publishing is Future, who pulled in a price in the “high eight figures” from Influence Media Partners, according to Variety. Influence, which recently announced a $750 million fund backed by BlackRock, Inc. and Warner Music Group, has bought catalogs from the likes of Jessie Reyez, Julia Michaels, and Tainy. In purchasing Future’s catalog from 2004 to 2020, they’ve acquired rights to hits like “Life Is Good,” “March Madness,” “Mask Off,” and “Move That Dope,” among other lucrative hits.
In a statement, Future said, ” “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. I’m proud to partner up with Rene [McLean, Influence Media partner and founding advisor] 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.”
Among other artists who’ve recently sold their catalogs are big names like Bruce Springsteen, Bob Dylan, Chuck D, John Legend, Justin Timberlake, and Sting (David Bowie’s catalog was also recently posthumously sold for $250 million). These moves are likely to change the face of the music industry in coming years.