Australian rapper, Iggy Azalea, has recently sold her music catalogue for an eight-figure sum to the investment group, Domain Capital.
WATCH: Iggy Azalea poses on the VMAS carpet. Article continues after video.
After reports were released this week regarding the deal, Azalea took to Twitter to comment on her recent financial success.
“It means that a portion of songs I sold to a company who now owns them. In exchange they paid me what they would have earned in my lifetime, up front in one lump sum,” she wrote to a curious commenter.
The breaking article from Billboard reported that the Kream singer’s deal included her entire catalogue and masters, as well as an “additional trigger” for her to earn future revenue for her masters. This announcement was preceded by news that Domain Capital recently closed upwards of $700 million in commitments towards a commingled entertainment fund.
Commenters were quick to compare the deal to Taylor Swift’s music ownership controversy where the Anti-Hero singer was denied the rights to her own songs. After a long public battle, the singer announced she would be re-recording her previous albums and has, since, released two Taylor’s Version albums.
Azalea addressed the speculation with a pointed response, writing, “Taylor did not profit from that sale. I sold a portion of my catalogue to who I wanted, for an amount that means I don’t have to work another day in my life.”
While most celebrated her monetary success, others were also sceptical of the intent of her response.
Regardless, the rapper and mother continued to celebrate her success on the social platform, confirming to commenters that her deal lies within the $10-$99 million dollar bracket.
As for her future plans? The artist is also the founder and sole owner of record label, Bad Dreams, and plans to release another album in the coming year.
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