Future recently confirmed that he has inked an eight-figure deal that sees him selling his music catalog to an investment firm, Influence Media Partners.
As part of the deal, the Grammy-winning rapper handed over his catalog that spans 2004 to 2020, which holds over 600 songs and many of his No. 1 hits. According to the company, it acquired 612 titles from Future, including hit songs made with some of the biggest names in hip hop – Drake (“Life Is Good,” and “Jumpman”), Kendrick Lamar (“King’s Dead”), Rihanna (“Selfish”), and The Weeknd (“Low Life”) to name a few.
However, Future’s decision to sell has drawn mixed reactions from many of his fans, some of whom criticized the move while others also speculated that the rapper’s finances were lacking.
“Time to pay up that child support, it’s going to sting. That’s why you plan how many you have because the older you get the less that income is. Selling catalogs this early is not a good sign for his financial future,” one person wrote on Twitter.
“I don’t understand artists doing this. You’ve basically sold yourself out,” another person said. “Child support for 15 kids is killing him!” another said.
The rapper, however, responded to critics on Wednesday on Twitter. “Unsuccessful people have no clue how success works,” he wrote.
The news about the rapper selling his catalog was first shared on Tuesday. Influence Media Partners is reportedly backed by Warner Music and investment firm Black Rock.
“We consider Future an artist of the ages. He resonates across a spectrum of demographics. We’re so excited about this partnership, it’s a fitting addition to our growing repertoire of top-tier talent and promotes our forward-thinking mission. During my tenure at Epic Records, I was able to work with and support Future throughout his pivotal career. Now at Influence, it feels like fate to be able to collaborate with him again alongside my dynamic partners to protect his legacy and works,” Influence Media Co-Managing Partner Lynn Hazan said about the deal.
Future also said he was confident about the deal while assuring his fans that his music catalog is close to his heart and feels his work is in good hands.
“I put everything into my music, and I wanted to make sure these were in good hands as I thought about the next chapter of these songs,” Future laments.
Future’s deal follows news of Influence’s $750 million fund platform to invest in “high-value compositions” from artists.The fund is backed by BlackRock, Inc. and Warner Music Group.
So far, Investment now holds over 20 catalogs from artists, including Puerto Rican songwriter-producer Tainy, singer-songwriter Julia Michaels, songwriter Ali Tamposi, and singer-songwriter Jessie Reyez among others.