Primary Wave is reportedly finalising a deal to acquire a significant stake in The Notorious B.I.G.’s music catalog, along with his name and likeness rights. The agreement is estimated to be worth between $100 million and $150 million.
Born Christopher Wallace and widely known as Biggie Smalls, the Brooklyn rap icon’s estate is managed by Mark Pitts and Wayne Barrow, co-founders of ByStorm Entertainment and former Bad Boy Records executives. Primary Wave’s founder Larry Mestel and partner Steve Greener are leading the negotiations.
The deal follows the recent passing of Voletta Wallace, The Notorious B.I.G.’s mother, who died last week at 78. She played a crucial role in preserving her son’s legacy after his 1997 murder, producing a biopic and overseeing his estate’s business affairs.
Primary Wave, founded in 2006, has built a portfolio featuring legendary artists such as Bob Marley, Whitney Houston, Stevie Nicks, and Luther Vandross. The company focuses on acquiring heritage catalogs as the value of music rights continues to rise. Recent deals include partnerships with Grammy-winning songwriter Jimmy Webb, country-folk singer Jerry Jeff Walker’s estate, and violinist Itzhak Perlman.
The market for music catalogs has surged, with artists like Bruce Springsteen and Bob Dylan securing multimillion-dollar deals. Analysts predict publishing rights could exceed $10 billion by 2030.
Biggie, widely regarded as one of hip-hop’s greatest artists, created some of the genre’s most enduring hits. His 1994 debut album Ready to Die included Juicy and Big Poppa, while his 1997 posthumous release Life After Death featured Hypnotize and Mo Money Mo Problems, earning multiple Grammy nominations. The album dropped two weeks after his fatal drive-by shooting in Los Angeles.
Since his death at 24, his estate has thrived through licensing, merchandising, and posthumous releases. His legacy has been celebrated in the biopic Notoriousand several documentaries. In 2020, he was inducted into the Rock and Roll Hall of Fame.
Warner Music Group has continued to expand Biggie’s presence in pop culture. In December 2023, the label partnered with The Sandbox to launch Breakin’ B.I.G., a ’90s-inspired virtual game set in a Brooklyn neighborhood shaped by Wallace’s influence. Earlier that year, Warner debuted Iconic Records: Life After Death, a visual podcast series on The Roku Channel exploring his final album.
