Dr. Dre is joining a growing list of artists who are cashing in on their discographies.
The hip hop icon has inked a deal to sell portions of his music income streams as well as other assets to Universal Music Group and Shamrock Holdings for over $200 million, reports Variety. Currently, Dre’s catalog produces around $10 million a year.
Orchestrated by Dre’s longtime attorney Peter Paterno, the deal reportedly includes royalties from his work as a member of N.W.A., his royalties as a producer, royalties from two of his solo albums, and the writer’s share of his song catalog where he doesn’t own publishing, which may include songs from his classic debut album The Chronic.
According to the report, UMG will now own the master recording of The Chronic, which is set to return to Dre from Death Row Entertainment in August of this year (Snoop Dogg purchased Death Row last year.) Also included in the deal is Dre’s share of Aftermath/Interscope's joint venture with the Top Dawg label for Kendrick Lamar projects through that deal and other assets to be named later.
Dre will retain his ownership stake in the Aftermath label which he co-owns with Interscope Records.
Regarded as one the greatest producers in hip hop history, Dr. Dre helped to put West Coast rap music on the mainstream map as a co-founder of N.W.A. The group sold over 10 million records and was inducted into the Rock & Roll Hall of Fame in 2016. Dr. Dre went on to launch Death Row Records, where he discovered Snoop Dogg and produced Snoop's groundbreaking debut album Doggystyle. After leaving Death Row, Dr. Dre launched Aftermath, where he signed Eminem and 50 Cent who would become two of the biggest artists in the world.
In his illustrious career, Dr. Dre has won seven Grammy Awards and sold over 25 million records.
