Frequent Metro Boomin collaborator Future, who sold his own catalog to Influence Media Partners last year. Photo Credit: The Come Up Show
A little over one month after unveiling a $600 million entertainment fund, Shamrock Capital Advisors has reportedly closed a catalog deal with hip-hop producer and songwriter Metro Boomin.
This latest song-rights investment from Shamrock – which in 2020 bought a portion of Taylor Swift’s music IP and is said to have taken a stake in Dr. Dre’s body of work to kick off 2023 – came to light in a report from Billboard.
But at the time of this piece’s writing, Shamrock didn’t seem to have penned a formal release about (or otherwise confirmed) the transaction, nor had 29-year-old Metro Boomin (full name Leland Tyler Wayne) addressed the subject on social media. In any event, St. Louis-born and Atlanta-based Wayne has produced and written for a number of commercially prominent acts throughout the past decade.
To be sure, the one-time Grammy nominee is credited as a producer and songwriter on tracks from Future and Drake (including “Where Ya At” and “Jumpman”), Lil Uzi Vert (“You Was Right” as well as the Migos collaboration “Bad and Boujee”), Big Sean (“Bounce Back”), Post Malone (“Congratulations,” which features Quavo), and Kodak Black (“Tunnel Vision”), to name some.
Additionally, Metro Boomin has released two solo albums to date, the most recent of which, Heroes & Villains, debuted in December and includes appearances from Travis Scott, ASAP Rocky, The Weeknd, and others.
While the precise scope of the Shamrock-Metro Boomin agreement remains to be seen, the transaction encompasses “a portion” of the musician’s “entire existing publishing catalog,” according to the aforementioned report, which likewise attached an approximately $70 million price tag to the sale. Variety confirmed the same details.
Metro Boomin’s tie-up with Shamrock represents just the newest in a long line of catalog deals, which are continuing to pour in despite economic turbulence and the sizable involved sums.
Since January’s beginning, the likes of Hipgnosis (which today announced a pact with Reactional Music, billed as a “music delivery platform and personalisation engine”), Universal Music, Reservoir, Exceleration, Primary Wave, Seeker, and Mojo have revealed catalog plays.
More significant than these already-detailed investments is the considerable capital that IP-minded companies are preparing to deploy. Across the last three or so months, Concord, Cutting Edge, Lyric Capital, and MusicBird have disclosed a cumulative total of $3 billion that could bankroll catalog buyouts – on top of Shamrock’s initially highlighted $600 million tranche and ample cash from different entities yet.