R. Kelly is struggling to sell his publishing catalogue below market value just to make ends meet.
According to Billboard, the singer’s lawyer Devereaux Cannick had revealed earlier this month that the singer funds are “depleted” at a court hearing, requesting free trial transcripts for his client. The report added that Kelly’s catalog generates around $1.7 million a year in the United States but only a small portion of this amount actually enters Kelly’s account. Plus he is paying a lot for his ongoing criminal cases and civil battles.
Now, despite his hit singles, the value of his music catalogue has plummeted in recent years. And the he trial and his alleged crimes has turned people away from his music, making the #MuteRKelly campaign a successful initiative. Also, his own record label, Sony Music, has cut ties with him.
“It has been offered to me a number of times by his team, and of course, I’ve said no for the obvious reasons,” says Merck Mercuriadis, Hipgnosis Songs Fund founder and CEO of The Family (Music) Ltd. “There are incredible songs in that catalog,” he adds. “but why would you take that kind of risk?”
