Growing Royalties from Migos’“Fight Night”

This collection boasts a dollar age of 5.36 years alongside impressive consistency and recent growth from one of the hottest hip-hop groups in the game, Migos.


closing price

Auction Closed

Top Bid: Troy E

The Theoretical IRR is a formulaic guideline based on an extrapolation of the normalized, historical earnings trend of the catalog. The Theoretical IRR is not a guarantee of future performance. It should be used for comparison purposes only. Each catalog has its own risk factors and the Theoretical IRR is not based upon a specific analysis of this catalog. Click here to view the basis for all Theoretical IRR calculations.

Historic royalty income is no indication of future royalty income. Future royalty income is dependent upon future sales and licensing revenue generated by the sound recordings or compositions associated with this listing.

Starting Price: $26,500
Bidding Increment: $700
Closing Price: $39,100
End Date: Jun 28, 2019, 1:14 PM MDT
Dollar Age:

5.36 Years

Last 12 Months' Royalties:


Investment Term: Life of author + 70 years
Distributors: BMI
Rights Included:

Public Performance

Interests Included:

Songwriter (World)

Track List:

Track List

First Distribution: September 20, 2019
Distribution Frequency: Quarterly
Buyer Fees:


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What rights are included?

  Musical Composition Sound Recording
Copyrights included? No
Public Performance
Sources: Internet Streaming, AM/FM & Satellite Radio, TV/Film/Commercial Performances, etc. Internet Streaming, Satellite Radio, Digital Downloads, CD Sales, TV/Film/Commercial Placements & Performances, Samples, etc.
Distributors: BMI


Up for auction are public performance royalties from the Grammy-nominated hip-hop group Migos, featuring individually awarded artists (and cousins) – Offset, Quavo and Takeoff. This collection earns predominantly from the 2014 Migos track “Fight Night.” Following its release, the track gained significant traction through radio plays. Now, the majority of earnings for “Fight Night” collect from streaming sources.

Over 86% of recent earnings derive from “Fight Night” included on the 2014 mixtape No Label 2. Since the song’s initial radio success, the earnings from streaming have grown significantly. In fact, its official YouTube video has over 27 million views and the track has since been certified gold by the RIAA. Additionally, “Fight Night” has shown impressive growth at 34% in the last 12 months alone.

This collection also earns from additional Migos’ releases including the 2014 tracks “Birds” and “Where Were You.” Collectively, the works make-up 6% of recent earnings.

Key Drivers

Dollar Age. This catalog has a Dollar Age of approximately 5.36 years. This means the majority of royalties earned in the last 12 months came from songs that have collected royalties for more than 5 years. A high Dollar Age like this suggests stability and longevity. “Fight Night” was released in 2014 and royalties continue to grow/remain consistent.

A catalog containing mature works with consistent (and even growing earnings) is something worth noting as an investor. This can help sustain a catalog's earnings moving forward.

Radio. Radio is historically, one of the largest sources of revenue for this catalog, accounting for 43% of historic royalties. Although radio royalties are still being generated, they could eventually level off. Typically, songs that experience significant radio play can often build a foundation for other types of income.

Case in point: streaming. Historically, streaming brought in 40% of royalties. In the last 12 months, however, streaming accounted for 52% of royalties. So as we're seeing the radio royalties begin to slow down, other income sources (streaming) begin to increase.

Hip-Hop/Streaming. This catalog is a perfect example of two trends: hip-hop and streaming's growth worldwide. According to BuzzAngle's 2018 Year End Report, hip-hop is the most popular genre of music in the U.S. The driver for the increase is streaming. Hip-hop/rap tracks accounted for more than a quarter of all on-demand plays on music streaming services in the US in 2018. Streaming accounts for 52% of this catalog’s earnings over the last 12 months.

Tour/Recent Release. Migos just recently released a new album in 2018 titled Culture II. While the new songs are not included in this auction, new releases can help boost an artist's back catalog. The release of new music draws discovery among first-time listeners and re-engages existing fans.

Additionally, in support of the album release, Migos is currently touring with dates through November 2019. Tours give artists the chance to solidify their current fan base and expand their reach to new listeners.

About the Royalty Distributor

Broadcast Music, Inc. (BMI) is one of four United States performing rights organizations, along with ASCAP, SESAC & Global Music Rights. It collects license fees from music users on behalf of songwriters, composers, and music publishers and distributes them as royalties to those members whose works have been performed. For more information on BMI’s distribution schedule, click here.

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