Rapper Logic has inked a deal with Influence Media Partners, unloading a chunk of his music catalog for a sum rumored to be in the elusive eight-figure range.
According to HipHopDX, the agreement includes a whopping 185 of the rapper’s songs.
And what’s the rationale behind this mega transaction?
According to a press release on June 29, Influence Media aims to establish its dominance in the hip-hop realm.
They claim this venture bolsters the future of Hip-Hop in the music publishing and content rights marketplace.
Logic Wants His Music To Reach New Audiences
Logic also chimed in about the deal.
“Making music has always been a creative outlet and a form of therapy for me, and I’ve been humbled by how deeply it has connected with people around the world. It’s important to me that the positive messages of my music continue to reach new audiences, and I’m excited to partner with Rene and the Influence Media Partners team to make a further impact through creativity.”
The rapper expressed his desire to reach even more souls with his uplifting tunes.
And to fulfill this lofty goal, he joined forces with the team at Influence Media Partners.
Logic is one of many hip-hop artists who sold their music catalog to Influence Media.
The company has snapped up 25 music catalogs, making the most of its $750 million fund from BlackRock Alternative Investors and Warner Music Group.
According to HipHopDX, this transaction between Logic and Influence Media Partners clocked in at a jaw-dropping sum in the “high eight figures.”
As Logic’s music catalog changes hands, we anticipate this deal’s seismic impact on the hip-hop landscape.