Australian singer-songwriter Sia has sold a 50% stake in her music catalogue to Swedish investment company Pophouse in a deal worth $180 million (about R3 billion).
According to documents obtained by TMZ, Sia will receive $165 million (about R2.8 billion) from the deal, while the remaining $15 million (about R250 million) has been placed in escrow.
The money in escrow relates to songs written during Sia’s marriage to Daniel Bernad. The former couple will have to agree on how those funds should be divided, or potentially resolve the matter through further legal proceedings.
Bernad has agreed to waive any claim to Sia’s $165 million payment in exchange for $1 million (about R17 million), leaving the singer with approximately $164 million (about R2.8 billion).
The deal comes as Sia continues to navigate her divorce from Bernad. The couple, who share a son born in 2024, have also been involved in legal proceedings over child support.
Pophouse Expands Music Catalogue Portfolio
Sia joins a growing list of major artists who have sold stakes in their music rights for substantial sums.
Bruce Springsteen reportedly sold his entire catalogue to Sony for $550 million (about R9.2 billion), while Katy Perry sold a portion of hers to Litmus Music for $225 million (about R3.8 billion).
Justin Bieber also sold his music rights for approximately $200 million (about R3.3 billion).
Pophouse has previously acquired music-related assets connected to Tina Turner and holds investments involving artists including Avicii, Swedish House Mafia and Cyndi Lauper.
The Swedish company was co-founded by ABBA’s Björn Ulvaeus and EQT founder Conni Jonsson.
Main Image: The Guardian
