According to a report by Billboard, published on Sept. 19, Kanye West and his camp are selling his publishing catalog for 35 times its gross profit, which is about $175 million.
The "Flashing Lights" rapper has denied these allegations via Instagram Story. He wrote, in all caps: "Just like Taylor Swift, my publishing is being put up for sale without my knowledge. Not for sale."
In addition to that initial Instagram Story, West uploaded a screenshot of a conversation he had with someone, who is most likely part of his team.
His message reads: "can you ask Gee who is selling my publishing?" West is referring to his manager, Gee Robertson.
The reply reads: "from Gee: fake news. Of course, every publisher wants to pitch there hardest to buy. Smh. [sic]"
'Just Like Taylor Swift'
When West liked his situation to Taylor Swift's he is referring to the time when artist manager Scooter Braun bought Swift's Big Machine catalog in 2019.
Swift alleged that her masters were sold to Braun's Ithaca Holdings without her knowledge, despite noting that she offered to purchase her masters.
According to the Billboard report, West is not unaware of the situation, and in fact, his team "have met selectively with prospective buyers to explore what kind of valuation his song catalog could fetch."
Unlike Swift's situation, Variety noted that Swift's publishing catalog was never in the market in the first place. However, West selling his publishing catalog would not be such an absurd idea-he is not the first artist to do so.
Earlier reports noted Future selling his publishing catalog to Influence Media Partner for an alleged eight-figure deal. Other artists who sold their publishing catalog includes David Bowie, Paul Simon, and Bob Dylan. Bob Dylan sold his publishing catalog for about $400 million.
Sale Efforts
Sources have revealed to Billboard that sale efforts have "slowed in recent months" and have received offers for it, and added that West was not actively seeking the sale of his publishing catalog.
West has an assortment of albums under his belt, 12 to be specific- that is a lot of songs. Billboard estimated that the songs generate about $13.25 million in publishing royalties per year.
Sources divulged that the 45-year-old rapper gets $5 million from his share, which brings the value of his publishing catalog to an estimated $175 million.
West has been in the headlines following some controversies regarding his feud with clothing brand Gap and german athletic brand Adidas. Both brands have partnered up with West's Yeezy, but he is eyeing terminating his contract with Gap.
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