Iggy Azalea Sells Catalog For ‘Eight-Figure Sum’
Iggy Azalea is the latest artist to cash-in on the super-heated catalog spree, by selling her works to Domain Capital, the Atlanta, Georgia-based investment services specialist.
The Mullumbimby-raised, Miami-based rapper has sold her recording and publishing catalog for an eight-figure sum, according to Billboard, which broke the story, a deal that includes 100% of Azalea’s share of her existing catalog.
For its investment, Domain Capital nabs Iggy’s share in her Billboard Hot 100 leader “Fancy” (featuring Charli XCX), “Black Widow” (featuring Rita Ora), and “Problem” (with Ariana Grande), and includes “an additional trigger” for the artist to earn future revenue on master recordings.
Included are her share in the albums The New Classic, which peaked at No. 3 on the Billboard 200 chart; Surviving the Summer (EP), In My Defense and her third and most recent studio LP, 2021’s The End of an Era, released through her own label, Bad Dreams Records.
It wasn’t long ago when Australian music fans were taking bets on which homegrown rapper would complete what was once considered unattainable — to export hip-hop into America.
No one had their money on Iggy Azalea (real name Amethyst Amelia Kelly).
Her breakthrough was massive, with Iggy hitting the summit on the Billboard Hot 100 in 2014 with her debut “Fancy,” and, in the same week, rising 3-2 as the featured artist on Ariana Grande’s “Problem.”
With that feat, she joined the Beatles as the only acts to rank at Nos. 1 and 2 simultaneously with their first two Hot 100 hits.
Along the way, she collected three Billboard Music Awards, an ARIA Award, two American Music Awards, a place in the Guinness World Records, and a spot as a judge on X Factor Australia.
“Fancy” has accumulated more than 1 billion streams on YouTube alone.
Following her fast rise, a tumble, triggered by an army of haters.
Four years after that impressive breakthrough, Iggy spoke about mistakes made and how she lost her footing, and her career was sidetracked.
“Before it was like, ‘We’re at the top of the mountain, and we have to stay at the top,’” she said. “I slid down the mountain a bit.”
As an independent artist, she’ll will be able to own her masters and publishing on all forthcoming music, effective from Q1 2023, and, according to Billboard, she has an administration deal with Sony Music Publishing.
New music is said to be in the works.