Writing on Twitter, the rapper also said she is “aiming to drop a [new] project” in 2023.
Iggy Azalea revealed that she sold her master recordings and publishing catalog with a huge deal.
On Monday (November 21), Billboard quoted a “source close to the deal” who stated that Azalea’s agreement with Domain Capital Group includes all of the rapper’s shares in her current catalog.
It was also reported that part of the deal was a “trigger” for future revenue from the masters. The article said the sale was “eight-figure,” although the exact amount has not yet been disclosed.
In addition, Azalea’s label Bad Dreams is wholly owned by the artist, and now he has a new distribution contract that has not yet been finalized.
Azalea subsequently addressed the catalog deal on Twitter, ending the comparison with the controversial sale of Taylor Swift’s master record. The rapper noted that Swift “did not cash in” on this deal.
“I sold part of my catalog to whoever I wanted for an amount that means I won’t have to work a day in my life,” Azalea explained.
“I love you all to the core, but the conversation of the masters goes a little beyond your understanding of the business.”
Another person asked the Australian artist why she decided to sell now, to which she replied: “I have a bigger business that I want to invest in.” You can see these posts and more below.
In a separate tweet, Azalea said she “intends to abandon the [new] project” at some point in 2023.
Azalea released her third and final studio album “The End Of An Era” in August 2021 on the Bad Dreams/Empire label.
Shortly before the release of the record, she announced that she intended to “take a few years off” from music in order to “focus on other creative projects and things that I am passionate about and inspired by.”
This summer, Iggy Azalea informed fans that she would be back soon. “I will be back,” she wrote on social media. “Cry about it.”