R. Kelly doesn’t earn much money from music these days since he was accused of being a sexual predator and now he is trying to pawn his music catalog to anyone who would have it, but according to Billboard, no one wants it.
Kelly has been facing a financial dilemma since he’s been sitting in jail for over a year. His lawyer has previously indicated that “his funds are depleted.” And despite his catalog continuing to generate around $1.7 million per year in the United States, Kelly receives little to nothing. The reason being, he’s already lost some legal battles, which include a $4 million lawsuit by a woman who accused him of sexually assaulting her as a teen. He also lost another lawsuit against the landlord of his former recording studio. And we can’t forget his current legal fees.
Getting rid of his catalog seems like a viable option. However, the disgraced singer is not having any luck. According to Billboard, Kelly offered it to Merck Mercuriadis, founder of Hipgnosis Songs Fund and CEO of The Family (Music) Ltd, who recently paid $140 million for the Red Hot Chili Peppers‘ catalog. His company also purchased half of Neil Young’s catalog, everything by Lindsey Buckingham of Fleetwood Mac, Shakira, producer Jimmy Iovine, and selected works of Bob Rock’s, including his share of Metallica’s self-titled album. However, Mercuriadis had no interest.
“It has been offered to me a number of times by his team, and of course, I’ve said no for the obvious reasons,” he said. “There are incredible songs in that catalog, but why would you take that kind of risk?”
Another unidentified asset buyer told Billboard, “We wouldn’t go near it with a 10-foot pole.”
The entire value of R Kelly’s life’s work to date isn’t worth a penny according to the free market. However, after the trial, that can change. Other asset buyers advised anonymously that they would not say no to the catalog if it arrived inexpensively and silently. But most likely, Kelly’s songs will not be used in any advertising or commercial films, and if a few civil proceedings go against him, any of his earned dollars might be owed to many of his alleged victims.
Kelly is currently on trial in New York, where he has pled not guilty to the charges. His attorneys have been inventive in their attempts to lower the charges, saying that herpes isn’t an STI. However, according to Assistant United States Attorney Maria Cruz Melendez, Kelly is not just a “predator,” but also the leader of a criminal organization who took repeated actions to facilitate his crimes.
