Here is why Future sold off his music catalog for eight figures

American rapper Future has sold off his music catalog to Influence Media Partners in a deal reportedly worth at least $10 million. Billboard also reports that the rapper could receive between $65-$75 million for his catalog.

Billboard adds that the figure is based on the 38-year-old artist’s master recording catalog, which has earned him an estimated $4.4 million in publishing royalties over the last three years.

The deal means that Influence Media Partners now owns the rights to the publishing royalties of Future’s 612 songs from 2004 to 2020. It includes his hit songs like “Life Is Good” and “Jumpman” with Drake, “King’s Dead” with Kendrick Lamar, “Selfish” with Rihanna, “Low Life” with The Weeknd and “Mask Off”.

In a press statement following the sale of his catalog, Future explained that he sold the rights to his own music because he wanted to make sure they were in good hands as he thinks about the next chapter of these songs.

“I’m proud to partner up with Rene and the team at Influence Media and send a signal that this music Frhas timeless value. My music is my art, and these songs represent some of the most precious artwork of my career,” Future said in a statement concerning the deal.

Rene McLean, who doubles as Influence Media partner and founding advisor, also added: “Future is a cultural icon. He continues to be a blueprint for impact and success in the music industry and has reinvented music in ways that no one has ever expected.

“It is rare to find someone who moves music and culture at the same speed with his distinct vocal and melodic style. His prolific career and continued popularity more than 15 years into the game is a testament to his undeniable influence on the contemporary music and culture landscape.”

Since hitting the hip-hop industry, Future has released eight studio albums. He has also done four collaborative albums and four commercial mixtapes. He has also done one reissued album and one soundtrack.

Six of his albums have reached the No. 1 spot on the Billboard 200.

Source: face2faceafrica