The-Dream Just Sold A Fraction Of His Music For Millions
The-Dream undoubtedly has an insane catalog under his belt, and he’s one of most relevant songwriters, producers, and people in the music business in general of this generation.
In an effort to preserve his legacy, the entertainer just signed a $23 million deal with Hipgnosis Songs–a music IP investment company–in order to acquire a 75% stake in his music catalog, according to reports from Billboard.
This acquisition includes a stake in over 300 songs–which features 25 Billboard top 10 songs and four Grammy Award-winning tracks that are either written, co-written, or produced by The-Dream. Some of the most notable tracks from the deal include: Rihanna’s “Umbrella,” Beyonce’s “Single Ladies (Put A Ring On It),” ” Justin Bieber’s “Baby,” and Mariah Carey’s “Touch My Body.” Kanye West’s “All Of The Lights” and Jay-Z’s “Holy Grail,” featuring Justin Timberlake are also in the mix.
“I’m proud to be part of this beautiful venture,” The-Dream said in a statement. He also spoke of Beyonce’s former manager, Merck Mercuriadis, who set up the investment company in the first place. “In making this decision I said to Merck ‘I need a Jimmy Iovine in my life,’ not just to nurture my songs, but to also help solidify the legacy I seek for myself and my songs even after I’m gone, for my children and beyond. His reply was simply, ‘I got it,’” he explained.
“It’s critical for us to set the highest standards with our first acquisition,” Mercuriadis added. “The-Dream is not only arguably the culturally most important songwriter of his generation, but he has written the marquee songs for the culturally most significant artists.”
In addition to acquiring a majority stake in The-Dream’s catalog, Hipgnosis has identified seven more “pipeline” catalogs it has its eyes on acquiring, including the work of Adele and Kanye West.