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Kanye West has stated his desire to buy the Universal Music Group for £25billion.
It comes after West recently suggested new guidelines for recording and publishing deals in the future of the music industry, discussing contracts, masters and rights issues in the music industry on Twitter and advocating for fairer treatment for all artists.
Speaking during a mammoth three-hour interview on The Joe Rogan Experience podcast, he spoke about taking his claims further, saying: “I’m going to buy Universal.”
He continued: “I was thinking about buying my masters [but] I realised that was too small of a thought. I’m going to buy Universal.
“[Universal is] only a $33bn organization. I’m one of the greatest product producers that ever existed. And I’m a child; I’m 43 years old. I was $53m in debt four years ago. Now it’s proven that I’m the new Michael Jordan of products.”
Kanye West recently revealed that he’s giving all artists signed to his label, G.O.O.D. Music, the 50 per cent share he holds of their masters back to them.
In a recent interview with Billboard, West elaborated on his plan, saying he is committed to “doing whatever is necessary so artists own their own copyrights”.
“Everyone knows this is a broken system that needs to be fixed,” West said. “Currently, artists take advances to make records and yet when they repay those advances the record company still owns the records. Imagine a bank lending you money to buy a house and then when you’ve repaid that mortgage, them telling you they still own it.”
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