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Wiz Khalifa views his decision to sell a portion of his catalog as a sound business move.
In July 2023, the artist sold a portion of his music and publishing assets to HarbourView Equity Partners, a global alternative asset management company, according to a press release. The sale included hit singles such as “See You Again,” “Black & Yellow,” and “The Thrill.”
“Wiz Khalifa has already made a profound impact on culture as a musician, executive, media visionary, and creative force. We celebrate his talent and creativity and are thrilled to welcome him and Taylor Gang to the HarbourView family today,” said Sherrese Clarke Soares, Founder and CEO of HarbourView, in a news release.
Khalifa commented:
“Sherrese and HarbourView truly understand the value of music and artistry. We are excited to partner with them as they continue to build a dynamic media company that is in line with the values and goals we all have here at Taylor Gang.”
More than a year after the transaction, he explained that his decision to sell a portion was driven by his belief that he would generate greater profit from the sale during his lifetime and ultimately viewed it as a strategic business move.
“You make a certain amount of money a year off of that stuff like streaming and things like that, but that over an amount of time, when you account for spending, you’ll never accumulate that much off of those particular songs as you would selling your catalog, for whatever it’s worth,” he said during an interview on “Club Shay Shay.” “Of course you negotiate and make it in your favor, but the main goal when you do that is to make more money off of those songs than you would ever make in your life in one big chunk.”
He added, “Throughout time, 110 years, you’ll make $110 million off that song. But like you could take that money…Or you can do that other people consider valuable again and cash out again. It doesn’t stop there. It’s like business. You build a business up to a certain point and then you give it to people who can take it to the next level or have the time to do whatever, and then you use that money to further yourself.”
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