Mac Miller, Wiz Khalifa, + more - Publishing Royalties

Mac Miller and Wiz Khalifa didn’t just ride the streaming era; they helped build the audience habits that drive it. This catalog captures publishing royalties from songs that have already proven they can live in rotation long after release. With a Dollar Age of 9.38 years, this is hip-hop with staying power: not a trend, not a debut-cycle spike, just durable listening that keeps showing up in playlists, algorithms, and repeat plays.

Here’s the key point for investors: the catalog’s largest revenue driver is streaming mechanical royalties, and recent earnings reflect a meaningful industry-wide shift. Streaming-driven royalties make up the majority of income across performance, YouTube (streaming sync), and mechanical categories, with mechanicals representing the largest share at 62.4% ($11,505 in 2025). Earnings from 2023–2025 also include estimated catch-up payments tied to higher streaming mechanical rates—$3,442 in 2023, $5,602 in 2024, and $2,439 in 2025—which reflect true-ups for periods that were originally paid at lower rates. While these catch-up payments should fade, the underlying streaming mechanical rates remain higher, meaning the ongoing run-rate benefits even as the one-time boosts diminish.

This is the kind of hip-hop exposure investors look for: not dependent on one track, with nearly half of 2025 earnings coming from outside the top five songs (49.1%). A deep catalog from iconic artists, proven demand for nearly a decade, and a key revenue line, streaming mechanicals, now operating in a higher-rate environment.

Download the investment memo for an in-depth analysis of this asset.

Mac Miller’s catalog reflects a clear artistic progression across his career. “Loud,” from the 2012 mixtape Macadelic, captures the energetic early period that followed the commercial breakthrough of Blue Slide Park, which debuted at No. 1 on the Billboard 200. “Stay,” from The Divine Feminine (No. 2 on the Billboard 200), shows a more mature direction, blending jazz-influenced production with the album’s romantic, R&B-leaning sound. “Rush Hour,” from GO:OD AM (No. 4 on the Billboard 200), highlights a sharper lyrical focus during a period of personal rebuilding.

Wiz Khalifa’s catalog followed a similar blog-era rise. “King of Everything,” released as a standalone single in 2010, helped grow his early Taylor Gang fanbase, while “The Bluff” and “The Plan,” both from O.N.I.F.C. (2012, No. 2 on the Billboard 200), reflect the commercial momentum he carried into the early 2010s following the success of Rolling Papers and the No. 1 hit “Black and Yellow.”