Earlier this week, news spread about Iggy Azalea having struck an 8 figure deal with finance consulting firm Domain Capital for her music catalog. The purchase includes 100% of Iggy’s share of hits such as “Fancy,” “Work,” and “Black Widow,” and releases under Virgin EMI, Island Records and her own Bad Dreams label. An “additional trigger” was added to the deal allowing Azalea to earn future revenue from her master recordings.
Proud of her recent business deal, Azalea hopped on Twitter where she started talking to her fans about her other business deals. In a backhanded tweet, one Twitter user wrote: “I just hope she doesn’t end up like Taylor [Swift]. No shade at all, just using it as an example,” citing Swift’s former manager Scooter Braun having sold her catalog.
Azalea responded to the user, explaining that Swift did not make any money from the deal and that her deal with Domain Capital is worth 8 figures. On top of that, Iggy said that she will never have to work another day in her life.
“Taylor did not profit from that sale. I sold a portion of my catalog to who I wanted, for an amount that means I don’t have to work another day in my life. I love y’all down but the masters conversation is a little beyond most of your understanding of business,” Azalea said.
When asked why she sold her catalog now instead of waiting a few more years for it to appreciate, Iggy said that she has larger plans in the works that she wants to invest in.
“I have a larger business I want to invest in,” Iggy responded.
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