July 6, 2023 – NEWARK, NJ (CelebrityAccess) – HarbourView Equity Partners has acquired a royalty income stream of select music from Grammy Award-winning rapper Nelly’s catalog. The deal’s financial details were not disclosed, but media outlet TMZ reports that Nelly took home $50 million for 50% ownership of his entire catalog.
The hip-hop artist has sold over 21 million albums since his debut album release, Country Grammar, in 2000, one of the few hip-hop albums to be certified 10x platinum. According to HarbourView’s press release, the deal includes some of Nelly’s most known tracks, including the No. 1 hits “Hot in Herre” and “Dilemma,” featuring Kelly Rowland.
“This catalog has made an incredible impact on generations of fans,” HarbourView founder/CEO Sherrese Clarke Soares said in a statement. “Works such as ‘Hot in Herre’ and ‘Shake Ya Tailfeather’ defined an era of music of a unique blend of hip-hop, R&B and country music that is undeniable. We are thrilled to add these influential pieces to our repertoire and work with the team to continue supporting the artistry within our ecosystem.”
The latest acquisition follows the company’s recent purchase of SoundHouse Acquisitions LLC’s catalog for a reported $325 million. In addition, HarbourView has acquired the publishing catalogs of Lady A, Brad Paisley and Latin music hitmaker Luis Fonsi. As part of the company’s aggressive growth strategy, it also acquired Big Loud Mountain Music’s publisher share of selected songs from Florida Georgia Line and the catalog of Incubus. BillboardPro reports a HarbourView-led group is among the bidders competing to buy a majority stake in BET Media Group from Paramount Global.
“As artists, we put our heart and soul into each track and there comes a time when you consider preservation of that artistry,” Nelly said in a statement on the deal with HarbourView. “My music is my legacy which I want to last beyond me, continuing to make my existing fans happy while reaching new generations and new audiences. I am excited to partner with HarbourView to create opportunities for discovery of my music decades from now.”
