Iggy Azalea was ready to walk away from the music industry last year. Now, the Australian-born rap diva is using it to her advantage to make major money moves. Most recently, she's sold her catalog to Domain Capital in an impressive eight-figure deal.
A source close to the situation broke the news to Billboard on Monday (November 21). The outlet has mentioned that 100% of the artist's share of her existing catalog makes up the agreement. Songs like "Fancy" featuring Charli XCX, "Black Widow" with Rita Oram and "Problem" alongside Ariana Grande are among the starlet's biggest hits.
Additionally, the deal includes a "trigger" that allows the "I Am The Strip Club" hitmaker to earn future revenue on master recordings. Manager Reece Pearson and attorney Peter Paterno came together to make this possible.
Projects that now belong to Domain Capital include The New Classic, In My Defense, and her Surviving the Summer EP. More recently, the mother of one gave fans her The End of an Era album, also included in her deal.
In the past, Azalea released music under labels like Virgin EMI and Island Records. Since then, she's founded her own Bad Dreams label. It was formerly distributed by Empire. Now, however, it's in the midst of a new distribution deal with a different firm.
At this time, the 32-year-old owns 100% of her own label. Beginning in Q1 of 2023, she'll fully own her master's and publishing on her upcoming music. Currently, she has an administration deal with Sony Music Publishing.
Azalea is currently spending time in Miami where she's been busy raising the son she and Playboi Carti share, Onyx. Aside from that, she's also working on an album that's due out next year. It's even due to feature executive production by her rumoured beau, Tory Lanez.
Though the duo has faced some backlash for working together, they seem excited to put the project together. Read what the Canadian R&B star had to say about things here, and check back later for more pop culture news updates.
[Via]