Skee-Lo's "I Wish" Royalties Sold for $245k
Skee-Lo 'I Wish' Royalties Sold ... Baller Bought It For $245k!!!
UPDATE
1:11 PM PT -- 12/20 -- Skee-Lo wants to clarify that he didn't sell all of his rights to "I Wish", only the writers share on a buy back deal.
UPDATE
He tells TMZ... "It was BMI performance royalties only; on a buy back deal to fund a new album project I'm recording over the holidays to own the Masters. I still own my publishing for 'I Wish.'"
Skee-Lo's famous 1995 single "I Wish" is about to put some money in someone's pocket ... because the royalties just sold on the open market.
The songwriter royalty streams for the iconic hip-hop song just went up for sale through the Royalty Exchange with an initial asking price of $375k -- but, apparently, that number was too high ... for everyone. The eventual buyer dropped a mere $245,000 to scoop up the rights for "I Wish". Quite the bargain!
The deal is similar, in principle anyway, to the mega-transaction Bruce Springsteen pulled off this week -- selling ALL his publishing and royalty rights to Sony for $500 million.
As for Skee-Lo ... we're told his hit track's recently been paying off more due to increased plays on streaming services -- "I Wish" has been streamed more than 103 million times on Spotify alone, and the royalties paid out nearly $28k in the past 12 months.
Skee-Lo released the song way back in 1995 and it was an instant hit, rising up the charts and eventually earning a Grammy nomination.
You know how it goes ... "I wish I was a little bit taller, I wish I was a baller, I wish I had a girl who looked good I would call her, I wish I had a rabbit in a hat with a bat and a six four Impala."
Skee-Lo's single is certified gold for selling over 600,000 copies.
Originally Published -- 12/18 12:20 AM PT
