R. Kelly Puts Publishing Catalog Up For Sale Amid Growing Financial Hardships, Catalog Could Be Worth Up To $21 Million But May Sell For Much Less
R. Kelly is looking to sell his publishing catalog, but are people willing to pay what it’s allegedly worth?
Yesterday (Wednesday, Aug. 25th), reports began circulating that R. Kelly‘s publishing catalog was for sale. The news comes amid the disgraced singer’s sex trafficking trial and growing financial hardships.
The publishing catalog reportedly includes numerous top 10 hits as well as songs done for other artists, such as Aaliyah and Michael Jackson. Despite this, R. Kelly‘s reputation and very public downfall have caused many potential buyers to distance themselves from the publishing catalog. Mark Mercuriadis, CEO of The Family (Music) Ltd., claims to have been approached by R. Kelly‘s team about the catalog, though he turned it down. He says:
“It has been offered to me a number of times by his team, and of course, I’ve said no for the obvious reasons. There are incredible songs in that catalog, but why would you take that kind of risk?”
Another person who was approached by R. Kelly‘s team shared similar sentiments:
“We wouldn’t go near it with a 10-foot pole.”
While R. Kelly‘s publishing catalog may be for sale, the exact value of it remains unclear. Reportedly, it could be worth up to $21 million. However, considering R. Kelly‘s downfall, it may sell for much less. One music asset trader estimates the catalog will sell for an amount between $8.4 million and $10.5 million. A music publishing executive also adds:
“If he is guilty, then it is a fire sale.”
What do you think about R. Kelly putting his publishing catalog up for sale? Comment down below to let us know!