Diddy isn’t rushing to sell his music catalog like many of his contemporaries have done in recent months — that’s according to one of his business partners.
In a recent interview with Trapital’s Dan Runcie, Combs Enterprises President Tarik Brooks spoke about Diddy’s choice to hold onto his music instead of auctioning off arguably his greatest financial asset.
“For us, we’re in no rush to get rid of a portfolio that could be a part of music’s evolution,” Brooks stated. “Who knows how you think about those assets in the future?”
He continued: “We have the benefit of being able to go slow and kinda take our time and basically run experiments at our own pace to figure out what we want to do. And so from that perspective, people have continually come through with offers, opportunities, and things. And we’ve purposely taken our time as we’ve thought about what Puff’s experience of music is gonna be over the next years as he climbs what he talks about as his second mountain.”
Check out the full episode of Trapital with Tarik Brooks below:
Diddy isn’t the only music powerhouse who has entertained — or executed in some cases — the idea of selling their music catalog.
In March 2023, Metro Boomin sold a portion of his existing publishing catalog to Shamrock Capital for $70million. The famed producer has an extensive catalog filled with chart-topping hits, including cultural juggernauts like Migos’ “Bad and Boujee,” Future’s “Mask Off,” iLoveMakonnen’s “Tuesday,” Kanye West’s “Father Stretch My Hands” and more.
The-Dream sold a chuck of his massive music collection in 2018, setting the tone for what was to come for artists and the money they could make from their catalog. At the time, The-Dream inked a deal with the Merck Mercuriadis-founded company Hipgnosis Songs Fund Limited to sell off 75 percent of his catalog for a reported $23million.
“It’s critical for us to set the highest standards with our first acquisition,” Mercuriadis, who once famously managed Elton John and Guns N’ Roses, told Music Business Worldwide. “The-Dream is not only arguably the culturally most important songwriter of his generation but he has written the marquee songs for the culturally most significant artists of our time including Beyoncé, Rihanna, Justin Bieber, JAY-Z and Kanye West.
“It’s an honor for this to not only be our first order of business but also to welcome Dream to our Advisory Board. He is a catalyst on so many levels and a big part of our future.”