Diplo Sells Mad Decent Publishing Catalog to Iconoclast
Mad Decent's catalog includes hits like Baauer's "Harlem Shake" and Major Lazer's "Lean On."
Sing it with us, to the tune of Queen's "Another One Bites The Dust": another one sells their hits.
Diplo is the latest global superstar to sell his music publishing catalog. The char-topping DJ, producer and songwriter reportedly struck a deal with Los Angeles-based Iconoclast, who have acquired the publishing rights to Mad Decent's catalog.
Mad Decent, Diplo's record label, is home to a number of the last decade's biggest dance hits, including Baauer's "Harlem Shake" and Major Lazer's "Lean On," among many others.
According to Music Business Worldwide, Iconoclast made multiple acquisitions of music rights catalogs over the past year, totaling a cool $300 million. It's unclear how much the company paid for Mad Decent's expansive catalog, but they're said to have plans to make a big push into technology, including the blockchain, to empower the next generation of artists.
"Our acquisition of the Mad Decent Publishing catalog illustrates our commitment to preserving and growing culturally significant art of any era including with artists that are shaping contemporary music," Olivier Chastan, Iconoclast's founder and CEO, told MBW.
Chastan originally became aware of Mad Decent when Diplo and Kevin Kusatsu, the label's co-founder, were working on Major Lazer's first album, Guns Don't Kill People...Lazers Do.
In the last few years, selling your music catalog has become commonplace. Last year, Swedish House Mafia sold their sound recording and publishing catalog to Pophouse. In 2020, the world's highest paid DJ, Calvin Harris, sold his publishing catalog to Vine Alternative Investments for $90 million. Harris' catalog includes hits like "Summer," "Feel So Close" and "This Is What You Came For," a collaboration with Rihanna.