Dr. Dre Strikes A Deal With Universal Music Group (UMG) And Shamrock Capital To Sell $200 Million Worth Of Assets
By Melody Siganporia – January 20, 2023 0
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The iconic Dr. Dre has sold numerous musical assets from his catalog to Universal Music Group (UMG) and Shamrock Capital in a $200 million deal.
The assets include the master for his classic album ‘The Chronic’ as well as Dre’s share of Kendrick Lamar’s releases through Top Dawg Entertainment’s deal with Interscope as well as his Aftermath imprint.
Los Angeles-based investment firm, Shamrock Capital has acquired the artist royalties from two of Dre’s solo albums, his share of N.W.A. artist royalties, his producer royalties, and the writer’s share of his song catalog where he doesn’t own publishing – which potentially includes his writer’s share of ‘The Chronic’.
Dr. Dre’s West coast rap group N.W.A. was inducted into the Rock N’Roll Hall of Fame in 2016 and this past year, Dr. Dre himself was inducted in himself as well. As reported by Music Business Worldwide, the asking price was $250 million, however the final deal feel short but still over $200 million.
Dre will reportedly retain his stake in Aftermath, which he co-owns with Interscope and saw him sign on the likes of Eminem, Kendrick Lamar, Anderson .Paak and Silk Sonic.
In the recent past, the sale of artist catalogs has become a new venture for investment firms as well as Record labels. From 75% of Avicii’s catalog being sold for upward of a $100 million to Bruce Springstein selling his entire catalog to Sony Music for a whopping $550 million and Shamrock also acquiring the rights to six of Taylor Swifts albums from her former label Big Machine.
H/T – We Rave You
Follow meMelody SiganporiaContent Writer | EDM News & Editorials at T.H.E – Music EssentialsTechie by day, rager by night. Full-time Expert at Apple and part-time writer with multiple EDM publications based in the Big Apple. My interest in the dance music scene began about 10 years ago and there was no looking back from there. I got involved with it on a professional level in 2013-2014 when I joined the core team for a leading music festival in India. Managing the entire Digital Marketing piece for them in addition to the Public Relations aspect, helped me gain insights into the industry. Upon moving to NYC a few years after, I decided to combine my passion for the music along with my flare with words and began contributing to EDM publications as a freelance writer. Follow meLatest posts by Melody Siganporia (see all)
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