Iggy Azalea has reportedly sold 100 per cent of her shares in her master recording and publishing catalogue in an eight-figure deal with Domain Capital.
The deal includes complete rights to the Australian rapper’s existing music catalogue.
This collection contains her number one hit “Fancy” (featuring Charlie XCX), “Black Widow” (featuring Rita Ora) and “Problem” (with Ariana Grande).
A source close to the deal told Billboard that it includes “an additional trigger”, which would allow Azalea to earn future revenue on master recordings.
The music artist’s manager Reece Pearson and her attorney Peter Paterno are said to have arranged the deal.
Azalea’s discography is made up of her four albums, The New Classic (2014), Surviving the Summer (EP, 2018), In My Defense (2019) and her latest release from 2021, titled The End of an Era.
Azalea, born Amethyst Amelia Kelly, seemingly confirmed the news on Twitter, resharing screenshots of Billboard’s article.
While the 32-year-old musician released her previous music under deals with Virgin EMI and Island Records, Azalea has since established her own label, Bad Dreams.
According to the source, the label, formerly distributed by Empire, is in the process of closing a deal with a new distribution firm.
At the moment, Azalea owns 100 per cent of her self-founded label and will be able to own her masters and publishing on all future music beginning in the first quarter of 2023.
Following a brief career hiatus after her 2021 record to pursue “other creative projects”, Azalea announced her return to music earlier this year, with future plans of releasing a new full project sometime in 2023.