Iggy Azalea Reveals Details of New ‘$2.7 Million’ Record Deal

By Jem Aswad

LOS ANGELES (Variety.com) – After weeks of self-publicizing her departure from Island Records and a nnouncing last week that she’s signed a new “deal/partnership” worth $2.7 million , Iggy Azalea has revealed the company with whom she’s signed: indie hip-hop powerhouse Empire.

According to the announcement, the multi-year agreement will see the San Francisco-based company “utilize its innovative label services to oversee the release and promotion of Azalea’s highly anticipated new music and forthcoming sophomore album,” which the rapper said is coming early next year.

“I’m so excited to begin a new entrepreneurial chapter in my career with EMPIRE as my partner,” Azalea said in the announcement. “The ability to have control of my own artistic future is a long awaited and monumental change in my life. I genuinely feel I am in the best position to achieve my creative ambitions.”

Ghazi Shami, founder and CEO of Empire, said, “We’re excited to welcome Iggy to the Empire family. Over the years, I’ve admired Iggy’s artistry, honest and direct relationship with her fans and tenacity as a businesswoman. I’m honored that we will have the opportunity to build upon her already exceptional career.”

Via twitter last week, Azalea wrote, “Proud to say I literally just signed my new deal/partnership! 2.7mil, can sign others, own my masters + 100% independent – I’m feeling like such a bossy grown ass bitch today!  Time to get back to ME. I’m so grateful & excited…”

In announcing her split with Island, the rapper said she hoped to release music early next year. “Well still no music this year tho…,” she wrote. “I am nowhere near ready direction wise etc with the stuff I’ve been working on and I don’t wanna jump the gun and have some messy era aesthetically. I’m aiming to be ready to share new music early next year!”

Producer J White, who coproduced Cardi B’s “Bodak Yellow” and “I Like It,” told Variety earlier this week that he’s scheduled to go into the studio with Azalea, although the project seemed destined for his forthcoming solo album.

It’s been a rocky few months for the Australian rapper, who spoke earlier this year of an  intervention for her mental health  being staged by her management, one that resulted in enrolling in a facility in Arizona.

The rapper had moved from Def Jam to Island earlier this year (both companies are part of Universal Music Group) and released her first music in four years, the “Survive the Summer” EP. A fall tour was scheduled and announced, however it was  cancelled last month , officially due to “unforeseen circumstances” but presumably due to slow ticket sales.

However, one can’t say she’s taking it lying down: The new announcement comes less than two weeks after she announced her split with Island, and earlier this week she laughed off an  apparent attempt by teen rapper Bhad Barbie to throw a drink at her .

“I get that this little girl has made a name for herself acting a damn fool on television and online, but I’m a grown-up,” she said in a video she posted to Instagram. “”I’m not about to waste my energy on that s–t or be fighting a kid in a club. Come on.”