Metal Anarchy

According to Billboard, Slipknot are currently considering the possibility of selling their publishing and recorded masters royalties. The band is reportedly working on the $120 million deal with HarbourView Equity Partners.

Notably, Slipknot have ownership over their publishing, but their master recording catalog is still controlled by Warner Music Group, which acquired Roadrunner Records in 2007. As such, the only thing up for sale is the group’s royalty income. It is also unclear if every member is participating in the sale. Billboard broke things down further:

“Based on Luminate data, Billboard estimates that over the past three years, Slipknot’s master recording catalog has averaged 740,000 album consumption units annually in the U.S. and 2.31 billion global streams per year, generating approximately $15.5 million in revenue. What’s more, Billboard estimates the publishing catalog generates $5.2 million in publishing royalties. If the band was averaging an estimated blended rate of 25% of royalties on its master recordings and 85% on publishing (after administration fees), the combined royalty pool would total around $8.9 million annually. At a $120 million valuation, that implies a 13.5 times earnings multiple. However, sources suggest not all band members are selling, and the actual income stream on offer may be closer to $6–$7 million, indicating a higher 17 to 20 times multiple.”