Diddy’s Business Partner Reveals He is Not Eager to Sell His Catalog.
Despite many of his contemporaries selling off their music catalogs, Diddy is apparently in no rush to join them. According to Combs Enterprises President Tarik Brooks, Diddy plans to hold onto his music for the foreseeable future. Brooks discussed the music mogul’s financial plans during a recent interview with Trapital’s Dan Runcie.
“For us, we’re in no rush to get rid of a portfolio that could be a part of music’s evolution,” Brooks stated during the discussion. “Who knows how you think about those assets in the future?” Diddy’s catalog is one of the most iconic in the history of hip-hop. It features the work of numerous legendary artists including Mary J. Blige, The Notorious B.I.G., Lil’ Kim, and many more.
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Brooks continued: “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. 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.”
As for artists who have decided to sell either their entire catalog or portions of it, Metro Boomin, Zaytoven, Dr. Dre, Future, and Irv Gotti have all done so as of late. Diplo explained his decision to do so during an interview with TMZ, earlier this year. “It’s a great investment because when you stream music it just constantly goes,” he said. “So a record like ‘Lean On,’ one of my songs with Major Lazer, always has 400,000 streams. It’s always gonna generate capital so it’s a great investment.” Check out Tarik Brooks’ interview with Trapital below to see why Diddy is not joining the star-studded list.
Tarik Brooks’ Discussion With “Trapital”[Via]