The producer, writer and artist has worked on hits like "Bad and Boujee," "Heartless," "Congratulations," "Creepin'," "Knife Talk" and more.
Producer, songwriter and artist Metro Boomin â a.k.a. Leland Tyler Wayne â has sold a portion of his entire existing publishing catalog to Shamrock Capital for close to $70 million, sources close to the deal tell Billboard.
News of the sale arrives on the heels of his second album HEROES & VILLAINS, which was released on Dec. 2, 2022. The record was peppered with some of the biggest names in music, including features from Young Thug, Travis Scott, Future, Don Toliver, Chris Brown, A$AP Rocky, Gunna, and late Migos member Takeoff. The album debuted at No. 1 on the Billboard 200albums chart, making it his second album in a row to hit No. 1 as an artist.
As one of rap and R&Bâs most defining creatives, Metro Boomin has helped craft hits like âBad and Boujeeâ by Migos, âMask Offâ by Future, âCongratulationsâ by Post Malone, âBank Accountâ by 21 Savage, âFather Stretch My Hands, Pt. 1â by Kanye West, âJumpmanâ by Drake and Future, âHeartlessâ by The Weeknd, âWavesâ by Kanye West, âChildâs Playâ by Drake, âTuesdayâ by iLoveMakonnen, and many more.
The multi-hyphenate musician has had 99 total entries on the Hot 100 chart as a producer, including two No. 1s and 10 top 10s. As an artist, Metro Boomin has 46 total entries on the Hot 100. He has spent 18 weeks at No. 1 on the Rap Producers chart and three weeks at No. 1 on the Hot 100 Producers and Hot 100 Songwriters charts.
Representatives for Shamrock did not return Billboardâs requests for comment. A representative for Metro Boomin declined to comment.
Shamrock was founded in 1978 as Roy E. Disneyâs family office and has since become an active, powerful buyer in the music catalog investment space. Itâs most notable investment being that of Taylor Swiftâs Big Machine catalogwhich the firm bought from Scooter Braunâs Ithaca Holdings in 2020. In 2021, Shamrock expanded into the lending space with a $196 million debt fund to loan money to IP owners in entertainment.
Last month, on Feb. 2, 2023, Shamrock Capital announced that it raised $600 million in a new fund (Shamrock Capital Content Fund III) aimed at acquiring film, TV, music video games, and sports rights.
Metro Boominâs deal, along with other recent hip-hop acquisitions â like Juice WRLDâs sale to Opus Music Group for a nine figure sum, Dr. Dreâs Shamrock and UMG deal for an estimated over $200 million, and Futureâs publishing catalog sale to Influence Media Partners between $65-75 million â have proved that the genre is fueling new investor interest.
Those who have been skeptical of rap catalog sales often point to the genreâs short history, which may indicate sharper â or still unknown â decay curves from other genres like rock and pop. Decay curves, which are based on past performance of other songs in the genre, refer to when the song levels out into a predictable state of income generation.
But the 50th anniversary of hip-hop special at the 2023 Grammy awards and its continued dominance on streaming platforms may reveal that rap is ready to become another sought-after genre for buyers.
âThere are certain names that have been around for a long enough period that they are now of an evergreen standard,â City National entertainment banking leader Denise Colletta recently told Billboard. âThose household names in hip-hop will continue to resonate with audiences.â – Billboard