Diddy won’t be following the latest trend of artists selling their music catalogs for huge payouts, says Combs Enterprises president Tarik Brooks. In a recent interview with Trapial’s Dan Runcie, Brooks revealed that the billionaire mogul had received several offers to sell his music catalog, which includes music from icons like Notorious B.I.G., The Lox, Mary J. Blige, Ma$e, Faith Evans, and so many more, but uninterested in selling at this time.
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“For us, we’re in no rush to get rid of a portfolio that could be a part of [music’s evolution],” said Brook. “Who knows how you think about those assets in the future?”
In 2016, Complex reported that Bad Boy Records had sold over 400 million records worldwide and amassed 38 multi-platinum singles. Brooks would go on to reveal that Diddy is taking his time with the offers as he continues to create music and pursue other related ventures. She explained:
“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,” he continued. “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.”
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Diddy launched the new Love Records — an R&B-driven record label — last year in a new deal with Motown Records. The first act to come out of that deal is singer/songwriter Jozzy, who released her debut single, “Replay,” in May 2022 at the Billboard Music Awards 2022.
“For the label I’m focused on creating timeless R&B music with the next generation of artists and producers,” said Combs in 2022. “Motown is the perfect partner for my album, and I’m excited to add to its legacy.”
Future, Iggy Azalea, and Dr. Dre are the latest stars to sell their music catalogs for massive amounts of money. Dre sold his catalog assets to Universal Music and Shamrock Holdings last week for $250 million dollars after shopping it around to various holding groups.
