The decision of artists to sell their music catalogs has been a topic of ongoing debate. In the case of Diddy, it seems that he is taking a long-term approach. In an interview with the Trapital podcast, Tarik Brooks, the president of Combs Enterprises, provided insight into how the rap mogul is handling his catalog.
Bad Boy Records is one of the most influential and groundbreaking record labels in the music industry. With a roster that includes iconic artists such as The Notorious B.I.G, Ma$e, Faith Evans, 112, Total, The LOX, and more, Diddy’s label has left a lasting legacy. According to a Complex report from 2016, the label has sold over 400 million records globally and earned at least 38 platinum and multi-platinum singles.
Despite his already solidified legacy, Diddy is not in a rush to sell his valuable catalog just yet. Instead, he is focused on where music and his label, Love Records, are heading in the future. According to Brooks, “we’re in no rush to get rid of a portfolio that could be a part of [music’s evolution]. Who knows how you think about those assets in the future?” He also added that Diddy and the team are looking to maximize his catalog “to create the best outcomes.”
Brooks also shared that Diddy and his team have the advantage of being able to take their time and conduct experiments at their own pace to figure out what they want to do with the catalog. He stated, “We have the benefit of being able to go slow and kinda take our time and basically run experiments at our own pace to figure out what we want to do. And so from that perspective, people have continually come through with offers, opportunities, and things. And we’ve purposely taken our time as we’ve thought about what Puff’s experience of music is gonna be over the next years as he climbs what he talks about as his second mountain.”
In contrast, fellow hip-hop legend Dr. Dre is reportedly selling a portion of his music income streams and additional assets in a deal worth up to $250 million. According to rumors, Peter Paterno, Dr. Dre’s attorney, shopped the deal for several weeks. If the deal goes through, it would include assets such as royalties from two of Dre’s solo albums and his share of N.W.A royalties and producer royalties. Additional assets would also include the writer’s share of his song catalog where he doesn’t own publishing, which may include songs from his iconic album ‘The Chronic.’
In conclusion, Diddy and Dr. Dre are approaching their music catalogs in vastly different ways. While Diddy is taking a long-term approach and focusing on the future of music and his label, Dr. Dre is reportedly looking to monetize his catalog by selling a portion of his music income streams and assets. Each approach has its own merits and it will be interesting to see how these decisions play out in the long term.