The trend of artists selling their catalogs remains in full force.
Logic has sold his music catalog in an eight-figure deal with Influence Media Partners, according to a press release shared with AfroTech.
The Grammy-nominated rapper’s sale includes hits such as “1-800-273-8255,” “EVERYDAY,” “HOMICIDE,” and “6 SUCKER FOR PAIN.”
“Making music has always been a creative outlet and a form of therapy for me, and I’ve been humbled by how deeply it has connected with people around the world,” said Logic, according to the press release. “It’s important to me that the positive messages of my music continue to reach new audiences, and I’m excited to partner with Rene and the Influence Media Partners team to make a further impact through creativity.”
The press release notes that Influence Media Partners announced a $750 million fund platform in 2022 that has helped them protect and invest in artists’ catalogs and legacies who make an impact in pop culture.
“Logic is a changemaker with an independent mindset and entrepreneurial spirit. He’s proven himself to be a multifaceted artist who never confines himself to one box,” Influence Media Partners’ Founding Advisor Rene McLean shared. “Logic has made a tangible impact not only on the music charts, but on culture, and his commitment to destigmatizing and raising awareness around mental health issues is admirable. Influence Media is proud to partner with Logic to ensure his powerful body of work is heard for generations to come.”
By making the deal, Logic joins the likes of Future and more.
In September 2022, the rapper sold his publishing catalog for a reported eight figures, as previously reported by AfroTech. It was estimated that his catalog had the potential to fetch anywhere between $65 million to $75 million, per Billboard.
“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.”