Mannie Fresh is the latest musician to join the trend of selling their music catalog. According to a press release, the deal with Reservoir Media, Inc. includes both publishing and recorded music rights. The New York City-based company did not disclose the amount it paid in the agreement.
“It’s great to be joining up with Faith Newman and the entire Reservoir team,” commented the New Orleans-born musician in a statement. “I’m grateful for their support, and I know they’ll take care of my music.”
“Mannie’s clever production cultivated a powerful moment for Southern hip-hop, and his distinctive sound helped pave the way for other producers for years to come,” added Reservoir Executive Vice President of A&R and Catalog Development Faith Newman. “I have personally been a fan of his for decades, and it’s a pleasure to bring him into the Reservoir family.”
“I was born and raised in Louisiana and witnessed Mannie’s meteoric rise from a local DJ in New Orleans to a globally acclaimed producer, writer, and performer who helped break some of the genre’s biggest talents. It means a lot to me to continue to build Reservoir’s connection to creators like Mannie, who represents the highest caliber of contemporary music from New Orleans, and we’re pleased to be the new stewards of his hit music,” detailed Rell Lafargue, Reservoir President and Chief Operating Officer.
In the past year, the number of artists and producers selling the rights to their catalogs has steadily risen. Since the start of 2022, John Legend, Zaytoven, Justin Timberlake, Chuck D, Iggy Azalea, Sonny Rollins, Metro Boomin, Future, and more, have all sold at least a portion of their publishing rights, if not entire catalogs, to various companies.
According to Music Business Worldwide, Reservoir Media has spent over $695 million on music catalogs since being started in 2007. In 2022 alone, the company made 96 firm offers, took 60 deals, and closed on 52.