Kanye West has refuted a recent report regarding his publishing catalog.
As previously shared by AfroTech, Billboard reported that Kanye West was looking to sell shares in his publishing catalog, which is currently administered by Sony Music Publishing. The report claimed that the rapper was seeking 35 times the net publisher’s share or gross profit — which would bring in $175 million.
According to the outlet’s estimate, his publishing catalog garners him $5 million per year, as well as $13.25 million in publishing royalties.
Now, the rapper has come out to respond as Pitchfork reports that West posted an Instagram story to clear the air.
What was said to be gone about quietly and intermittently for over over 10 months may not have started on his own behalf to begin with.
“Just like Taylor Swift My publishing is being put up for sale without my knowledge Not for sale,” he wrote via his Instagram Story, according to the outlet.
West’s statement refers to the controversy of the master rights of Swift’s first six albums being sold by her former label — Big Machine Label Group — to Scooter Braun’s Ithaca Holdings LLC in 2019.
In 2020, Ithaca Holdings LLC sold master rights to Swift’s first six albums in a deal “believed to be north of $300 million,” Variety reported at the time.
Pitchfork notes that in 2020, West has previously put in an effort to buy back his masters from Universal Music Group.
Over the past few weeks, rappers have been in the news frequently for selling their publishing catalogs.
As previously reported by AfroTech, Public Enemy’s Chuck D sold a stake in his music catalog to his publisher, Reach Music Publishing.
On Sept. 20, it was announced that Future sold his publishing catalog for around eight figures with Influence Media Partners.
“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, according to a press release. “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.”