Logic, the American rapper, singer, and record producer, has reportedly sold a significant portion of his music catalog to Influence Media Partners in an eight-figure deal. According to multiple sources, this sale includes the majority of his publishing and master recordings.
The deal, which was first reported by Music Business Worldwide in October 2021, marks a significant investment in Logic's music rights. However, the exact terms of the agreement have not been disclosed.
Logic's music catalog spans over a decade of releases, including critically acclaimed albums like "Everybody" (2017) and "Bobby Tarantino II" (2018). His publishing catalog includes the rights to his compositions and lyrics, while his master recordings represent the actual sound recordings.
Influence Media Partners, a Los Angeles-based media investment firm, has been actively acquiring music catalogs in recent years. The company's portfolio includes the catalogs of artists such as Timbaland, Nelly, and Lil Jon.
Music catalog sales have gained popularity in the music industry as a way for artists to secure financial stability and capitalize on the growing demand for music streaming. According to Billboard, the value of music catalog sales reached an all-time high of $6.2 billion in 2020.
The sale of Logic's music catalog raises questions about the ownership and value of music rights. Music rights can be divided into several types, including performing rights, mechanical rights, and synchronization rights. These rights are managed by various societies, such as ASCAP, BMI, and SESAC.
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