‘Not for sale’: Kanye West claims his music catalog was put up without his knowledge

Kanye West claims that his invaluable music catalog was being put up on the market behind his again.

“My publishing is being put up for my sale with out my information,” the recording artist and clothes designer wrote in all caps in his Instagram story on Tuesday. “Not on the market.”

The announcement comes amid a Billboard report that urged West, who goes by Ye, has been quietly purchasing his catalog round for potential consumers, which may draw a sale as massive as $175 million.

The “Donda” rapper went on to match the scenario to Taylor Swift’s the place the pop singer-songwriter was embroiled in a bitter combat with supervisor Scooter Braun over possession of her six first albums. Swift finally re-recorded her albums, beginning along with her 2008 album “Fearless,” then her 2012 album “Pink.”

West additionally shared a screenshot of a textual content dialog with somebody near Gee Roberson, West’s former supervisor.

“Are you able to ask Gee who’s promoting my publishing,” West requested.

The Roberson consultant mentioned the report was “pretend information” and mentioned publishers have simply been pitching to purchase West’s catalog.

Publishers, music corporations and personal fairness corporations have shelled out a whole lot of hundreds of thousands of {dollars} to purchase music artists’ catalogs lately because the success of music streaming providers resembling Spotify and Apple Music have elevated the worth of recorded music.

For the final 20 years, songwriting catalogs usually offered for about eight to 12 occasions the online writer’s share, or gross revenue. Immediately, some valuations are at 25 to 30 occasions the writer’s share. Sony Music Leisure purchased Bruce Springsteen’s grasp recordings and songs final yr for $500 million. Earlier this yr, Warner Chappell Music purchased David Bowie’s songwriting catalog for $250 million.

The Billboard report had mentioned West was asking for a value valued as a lot as 35 occasions the online writer’s share.

Billboard estimated that the songs in West’s catalog generate greater than $13.25 million in publishing royalties yearly. West‘s share of possession of the songs, primarily based on writing credit, yields about $5 million in revenue, the report mentioned.

The 24-time Grammy winner has recorded 4 No. 1 Billboard Scorching 100 hits. 9 of his albums debuted at No. 1. General, West has offered an estimated 160 million information, among the many most ever for a recording artist.

In the meantime, he’s engaged in a combat with Hole after terminating his partnership with the clothes retailer final week, due partially to disagreement with gross sales and what West’s representatives referred to as Hole’s failure to satisfy different obligations of their authentic contract from 2020.

“Notably, Hole doesn’t dispute that it has failed for over two years to promote a single Product in a single Hole retailer, together with any of its 500+ tales in America,” mentioned the discover of termination West shared on Instagram.

West just lately employed Elon Musk’s legal professional, Alex Spiro, to help within the authorized battle, in accordance with reporting by the New York Publish, and likewise introduced the hiring on his Instagram.