Kanye West has been on a movement of pushing for what he believes he’s worth.
Billboard reports that the rapper is looking to sell shares in his song catalog. On the hush, West’s representatives have been in the process of meeting with potential buyers for over 10 months.
According to the outlet’s estimate, his publishing catalog garners him $5 million per year, as well as $13.25 million in publishing royalties.
For all his contributions to the music industry, West is reportedly seeking 35 times net publisher’s share, or gross profit — which would result in a $175 million valuation. If a buyer is to move forward with the purchase, it’s said that “the buyer would also get the opportunity to sign a go-forward publishing deal with the multi-platinum artist.”
The outlet has detailed three issues that could possibly be keeping buyers from making the expensive agreement with West. The main factor it notes is that West’s catalog “hasn’t matured yet and a number of his songs are still enjoying hit status, which means the amount of revenue these hits generate annually is likely to ‘decay’ over the near future and it’s still unclear at what level of activity each will stabilize. That makes it difficult for investors to predict their returns.”
Additionally, West’s songwriter splits are reportedly in dispute, and his unpredictability raises concern.
West’s pursuit of seeking a buyer has allegedly slowed down recently, per the outlet’s sources. The change in pace poses the question of whether he and his team have secured a bidder or if no one, as of now, has been able to pay up the price tag.
The news of West shopping his catalog comes out after an estimate of his fortune possibly dropping. As previously reported by AfroTech, Forbes estimated that his fortune would drop well below $1 billion if he were to officially cut ties with adidas.
