Hip-hop artist Future has become the latest artist to sell the publishing rights to his music masters.
The deal with music and entertainment platform Influence Media Partners is rumored to be in the eight-figure range, and sources close to the deal say the Grammy-winning artist’s rights are worth up to $75 million.
Influence Media Partners is focused on investing in the recording and publishing rights of commercially proven songs.
Influence Media Partners has acquired Future’s publishing catalog from 2004 to 2020, and those years spans 612 titles, including titles with frequent collaborator Drake (“Life Is Good,” “Jumpman”), Kendrick Lamar (“King’s Dead”), Rihanna (“Selfish”), and the Weeknd (“Low Life”) and his own solo hits like “Mask Off,” Variety reported.
“I put everything into my music, and I wanted to make sure these were in good hands as I thought about the next chapter of these songs,” Future said in a statement. “I’m proud to partner up with Rene and the team at Influence Media and send a signal that this music has timeless value. My music is my art, and these songs represent some of the most precious artwork of my career.”
Future is not the only artist selling his music rights. There has been a rush to sell by artist such as John Legend. Justin Timberlake sold his song catalog to Hipgnosis for more than $100 million. Producer and Murder Inc. Records co-founder Irv Gotti reportedly sold his masters as a part of a deal worth $300 million.
Now, Future has jumped on the trend ad dropped a major portion of his work from his 16-year career.
“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,” Rene McLean, Influence Media partner, and founding advisor, added in a separate statement.
McLean continued, “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. We’re honored to be partnered with him.”
This acquisition comes on the heels of Influence’s recently announced $750 million fund platform to invest in high-value compositions from diverse artists with backing from BlackRock, Inc. and Warner Music Group, Variety reported.
Future has released 16 mixtapes, eight studio albums, and four collaborative projects. Six of the eight studio albums ended up going No. 1 on the Billboard 200, HipHopDX reported. Future’s most recent effort, “I Never Liked You,” debuted at No. 1 on the Billboard 200 back in May.
He has also dropped a new album, “King Pluto.”
Rapper Future performs at the 2015 Hot 97 Summer Jam, June 7, 2015, in East Rutherford, New Jersey. (Scott Roth/Invision/AP)