Months after it was rumored, it’s now confirmed that Slipknot has made a deal to sell off a majority stake in their music catalogue.
According to The Hollywood Reporter, the band has finalized a deal with HarbourView Equity Partners over publishing and royalty rights. Neither party has divulged the amount of the deal. It was, however, previously reported that the band’s catalogue was worth roughly $120 million.
“After 25 years of taking on the music business, we find ourselves with a partner that is willing to sign onto continuing what Slipknot started,” Slipknot founding percussionist and band leader Shawn ‘Clown’ Crahan said in a statement. “Only they want to go even bigger. Get ready. Hail The Knot.”
With HarbourView Equity Partners behind them, Slipknot plans to “go even bigger” now
Sherrese Clarke, founder and CEO of HarbourView Equity Partners, added: “Slipknot’s music has redefined heavy metal and created a global cultural phenomenon. We pride ourselves on having our finger on the pulse of culture. With thorough analysis of audience engagement, we clearly see the cultural impact of Slipknot from the 1990s to present.”
“The enduring and relevant proof points with Slipknot remain core to our investing thesis. HarbourView is honored to help preserve and amplify the group’s work for decades and generations to come,” Clarke continued.
Slipknot’s music was previously estimated to generate more than $15 million in annual revenue
Billboard previously estimated that over the last three years, based on streaming data and other metrics, Slipknot’s music has generated $15.5 million in annual revenue. The band’s publishing brings in an additional $5.2 million each year.
Slipknot’s master recording catalogue is controlled by Warner Music Group, which acquired Roadrunner Records in 2007. The record label has been the band’s longtime musical home. Interestingly, Billboard reported that Slipknot would likely retain ownership of their publishing. This new deal seems to have found the band selling at least some of it off, however.
What’s next for Slipknot?
While Slipknot’s past music is now partially under new ownership, the band has more on the way. Recently, the band’s new drummer, Eloy Casagrande, revealed that new music is “cooking.”
Speaking to Drummer’s Review, Casgrande shared that the band has been working on new music. He also clarified that nothing is set in stone as of yet. “What I can tell you right now is that we are cooking,” he said, “we are doing some new music, for sure. Yes, we are.”
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