Part of Eminem’s catalog is set to be listed on the stock exchange. A company called Royalty Flow has purchased a percentage of royalty revenue from part of the rapper’s catalogue from 1999 to 2013. Royalty Flow purchased its shares, which they plan on launching as an IPO and publicly trading, from from Jeff and Mark Bass, who initially signed Eminem and their manager Joel Martin.
The Detroit native has no involvement in the deal, according to a rep for Eminem who sent the following statement to Variety: “Eminem is not involved in any deals for the sale of recording royalties and has no connection to this company. The decision to offer the royalty stream for sale or otherwise was made independently by a third party who retains royalties for an early portion of his catalogue and Eminem was not consulted.”
According to Royalty Flow, the stock will be made available to publicly buy, sell, and trade once the company raises between $11 and $15 million.
In other music news, Chance the Rapper debuted a new song with Daniel Caesar on ‘The Late Show.’ Watch the performance right here.
- Cover Image: Theo Wargo