Nicki Minaj's Catalogue Is Being Sold Off — and the Numbers Behind 'Fly' Tell a Bigger Story

Songwriter royalties for 'Fly' by Nicki Minaj featuring Rihanna have been listed for public auction on Royalty Exchange, the online marketplace where music rights holders sell future income streams to private investors. The listing covers a 30-year songwriter royalty term distributed through ASCAP, with 26.18 years still remaining and an expiration date of 2 June 2052. The minimum bid is set at $2,360 (approximately £1,865).

The listing drew attention online after Sir P (@sapphire_rage) noted the sale on X, writing: 'Things are now that bad, Republic are selling Nicki Minaj's catalogue.' The post accumulated over 321,000 views, with many pointing to the figures as a sign of shifting fortunes for one of rap's most decorated artists.

What the Numbers Show

The Royalty Exchange listing, identified as Asset ID 4672, covers songwriter royalties — not master recordings — for the musical composition of 'Fly.' According to the listing data visible in the auction entry, the song has earned $72,225 (approximately £57,060) in songwriter royalties since 2011. Year-on-year figures show $2,455.71 (approximately £1,940) in 2022, $2,245.27 (approximately £1,774) in 2023, $2,813.29 (approximately £2,222) in 2024, and $2,171.89 (approximately £1,716) in 2025. The three-year average sits at $2,383 (approximately £1,882), with the last 12 months generating $2,227 (approximately £1,759). The marketplace median valuation for the asset is listed at $17,426 (approximately £13,767).

Publishing royalties are earned by the songwriter and their publisher from the underlying composition — the melody and the lyrics — and are entirely separate from the master recording rights. The auction covers only the songwriter royalty stream; it does not concern ownership of the recording itself, nor does it affect the artist's creative rights.

The Track's Chart History

Released on 30 August 2011 as the eighth and final single from Minaj's debut album 'Pink Friday', 'Fly' peaked at number 19 on the Billboard Hot 100 and placed within the top 20 in Australia, Ireland, New Zealand and the United Kingdom. The song also became Nicki Minaj's first number one on the UK R&B Chart.

Production was handled by Eirik Shadøe Rotem, who later recalled that the song 'almost did not make the cut for Pink Friday' and was the last addition to the album. Rihanna's involvement came after Minaj specifically requested her. The track has since been certified Platinum in the United States and Australia, and Silver in the United Kingdom.

How Royalty Exchange works

Royalty Exchange is an American company that operates an online platform for buying and selling royalty assets, where royalty owners can sell their future payments to investors as alternative assets. The exchange connects creators with investors through an open, transparent marketplace, with new assets listed weekly. Buyers who win an auction effectively step into the seller's position for the duration of the term, receiving a share of ongoing royalty income paid on the same schedule as the original holder.

The 'Fly' listing carries a Dollar Age of 14.22 years, a metric used by the platform to reflect how long the asset has been generating income, which signals a stable, mature earning history. The listing covers public performance royalties distributed through ASCAP, covering sources including internet streaming, AM/FM and satellite radio, and TV, film and commercial performances.

Why the Reaction Matters

The post that sparked the conversation online drew a notable reply from a fan account stating that Minaj 'OWNS 100% of her publishing,' to which the original poster responded: 'What good is that if I can buy the royalties to her music? The only person making actual money would be, the songs are already published.' The exchange highlights a genuine and widely misunderstood distinction in music rights — one that has become increasingly relevant as platforms like Royalty Exchange bring music investment into public view.

More than $200 million (approximately £158 million) in deals have closed through the Royalty Exchange platform, with catalogues from artists spanning multiple genres having passed through its auctions. The sale of songwriter royalties does not strip an artist of their creative rights or their identity as a writer; it simply redirects future income payments to a third-party investor for a set period. As platforms like Royalty Exchange expand access to what was once an exclusive investment market, the mechanics of music publishing are becoming visible to audiences beyond the industry.