Rapper Nelly cuts a $50 million deal for the sale of 50% of his music catalog...
From TMZ
Sources close to the rapper tell TMZ ... Nelly secured a $50 million deal for 50% ownership over his entire catalog -- which includes 8 albums and a ton of #1 singles that helped define pop culture in the 2000s.
We're told Nelly is teaming up with a company called HarbourView Equity Partners for this, which is forking over the dough to lock up some of his best-known songs ... such as, "Ride Wit Me," "Dilemma" and of course, "Hot in Herre." Obviously they're getting more than just that ... but those tracks are, by and large, the ones Nelly's perhaps best-known for.
In fact, a couple of these songs won him Grammys -- he snagged a statuette in 2003 for "Dilemma" (Best Rap/Sung Performance) and another that same year for "Hot in Herre" (Best Male Rap Solo Performance). He has another Grammy to his name for "Shake Ya Tailfeather."
No word yet on which parts of Nelly's catalog -- besides the above-mentioned singles -- now belong to HarbourView ... but considering the wide range of tunes he has under his belt ... you gotta figure there's more goodies in the vault that they'll now have a claim to.
It's a lot of money, obviously -- so it's great news for Nelly. Interestingly enough, things are going swimmingly for Nelly in other departments of his life ... including his business ventures, like his alcohol brand, MoShine.
Plus, he's not even done making music at this point in his career ... the guy produced a full-on country album, "Heartland," in 2021 -- and we're hearing part 2's on the horizon as well.
17 comments:
Good for him.
It's time for this tired ass blog to go the way of Dlisted, deleting comments, free speech bitches, you need a root thrown on this tired ass blog, it's not even fun anymore.
I don't buy celeb branded spirits.
@9:28 PLEASE watch your language. Disguise curse words if you MUST use them and DO NOT threaten or attack other commenters. OBEY THE RULES BISH!
Good for Nelly! Ashanti bringing him positive energy too. He need to go ahead and make it official… Ashanti is a good woman.
50 million is nothing nowadays for these rappers. 50 million can be a house down payment.
I am not a big fan of selling masters or ownership interest unless it makes sense to do so and I don't know what his situation is like I think he did a lot young and this may be a second chance to manage a fortune more correctly and if the rumors are true he is getting a second chance with the love of his life and maybe he wants to make sure no financial issues interfere with things not sure how true it is but it's been said also that his financial situation in the past was the source of a very big issue that exacerbated the rift between him and this same past love. I am not a fan again however I am a fan if it's a case of giving to get and selling 50% of his catalogue out right doesn't seem on appearance to be a good deal for him. He may be able to eat off of that deal and if handled properly whatever proceeds he reaped from such a deal could set him and future generations up for a comfortable existence I hope he did not do this deal just to repair a past misstep with his finances and to make sure he could right that wrong this go round. If he did in fact sell a 50% interest in his entire catalogue that to me would have been the best deal because no one is going to pay to get half of an asset they don't plan on exploiting if he sold 50% of his catalogue and they then go about the business of exploiting the contents of that catalogue that would be the best case scenario he would in fact receive some upfront payment and most likely at some point in time begin to get 50% of the revenues generated from the exploiting of the contents of the catalogue. That usually takes place the (50/50 profit sharing) after the buyers have recouped all or a portion of the initial payout to him that amount is usually determined by how shrewd of negotiators he and his team are. I hope he did not go for the okie doke and hand over sole ownership of half of his catalogue in hopes their exploitation of that half would create a demand for him and a steady stream of live performances as long as the catalogue is being exploited properly granted he is receiving the upfront compensation he is still not guarantying any revenue after his productive years and/or life he would be giving up any rights to half of his catalogue for what a promoter and publisher could have done for him and still retained 100% ownership.
At least he still has 50% ownership and a lump sum.
I hate this because as soon as they sell their music we hear it in cheap-azz TV commercials. I expect to hear “Hot In Herre” on a Taco Bell commercial.
And I get it. He may as well sell it because his family will do it as soon as he dies. Still, I hate how YT take our music and use it to sell garbage or use it in their stupid rom-com movies. Ugh.
Let’s hope he pays Ashanti back what he owes her OR does this mean that he’s about to break-up with her again?
Nelly knows good and hell well that he sold ALL of his catalog for that measly $50MILL!
I agree at 9:28
50M's is no paltry amount of money. Can go a lifetime if them rappers stop trying to be the joneses or keep up with them. I like Nelly X Ashanti. This is a good look and hopefully takes them to the next level. Nothing neg to say about neither.
Nelly may have more debt than income coming in and may need the funds to pay off creditors and to make smarter financial investments. I also hate that our ppl have to sell ownership in products that we create, but, our ppl are not financially literate. A lot of black entertainers don't know how to manage their wealth until 15-20 years into their career. Let's just hope that Nelly learned how to manage wealth and can flip that $50 million into something bigger. He should take his cues from 50 Cent; he may be an @$$h0le, but he's a financially literate @$$h0le who knows how to flip a pretty coin into a half billion empire, without hanging onto to a famous woman's coattails (*coughs* Jay/Bey).
Now he's either going to MARRY Ashanti or do what Nelly does. The only way this snake could've got back is with s finite plan. I hope shanti doesn't waste a y more time with this druggin, gamblet..
If he hasn't retired his wondering peen, there is no reason to marry.
So far as selling his catalog for a low amount, he must have money problems. The songs mentioned are his best songs. The other half of the catalog must be the side B songs.
This man could have sold half for 500 mil and yall would STILL call it a low offer.
96% of yall commenting will NEVER even smell 100k at once let alone 50 mil.
Full stop.
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