Metro Boomin is now reportedly $70million richer after selling a portion of his existing publishing catalog to Shamrock Capital.
Billboard reported the news on Tuesday (March 7), citing sources close to the deal. However, both sides declined to comment; so there are no additional details on what was included in the sale.
The famed producer has an extensive catalog filled with chart-topping hits, including cultural juggernauts like Migos’ “Bad and Boujee,” Future’s “Mask Off,” iLoveMakonnen’s “Tuesday,” Kanye West’s “Father Stretch My Hands” and more.
Thus far in his career, Metro Boomin has 99 total entries on the Billboard Hot 100 chart as a producer, including two No. 1s and 10 Top 10s. As an artist, he’s notched 46 total entries.
In January, Metro became the first non-rapping Hip Hop producer to surpass 50 million monthly listeners on Spotify thanks to the success of his sophomore album, HEROES & VILLAINS.
Released on December 2, the Atlanta producer’s second studio effort earned roughly 185,000 album-equivalent units in its first week, making for a No. 1 debut on the Billboard 200. The star-studded project features Future, Travis Scott, A$AP Rocky, 21 Savage, The Weeknd and more.
Over the past few months, a number of Hip Hop artists young and old have negotiated similar deals as Metro including Future and Iggy Azalea, who both notched eight figures in exchange for ownership of their publishing rights in 2022.
More recently, Zaytoven sold 560 songs written between 2005 and 2022, including Migos’ breakout hit “Versace,” Travis Scott’s “3500,” Lil Wayne’s “Problems,” 21 Savage’s “Famous” and more, according to Variety. The sale amount has not been disclosed.
In early January, Billboard reported that Dr. Dre was closing in on two separate deals to offload a share of music income streams and other assets to Shamrock Holdings and Universal Music Group.
The deals, which were shopped by Dre’s longtime attorney Peter Paterno, were being pitched for a combined sum of $250million. While the final sale price won’t quite be that high, a source close to the rap mogul said the figure will still be “well above $200million.”
Last month, it was revealed that Juice WRLD’s estate had also reportedly sold off the majority of the late rapper’s catalog in a nine-figure deal quietly negotiated in the early months of 2022.