Tina Turner Sells Song Catalog For Estimated $50 Million
Topline
Tina Turner grew to become the most recent music megastar to promote their music catalogue rights for an eye-popping sum, with one business publication estimating that the deal at greater than $50 million.
Tina Turner at a 1987 efficiency.
Getty Pictures
Key Info
In a cope with music firm BMG, the 12-time Grammy winner offered her tune rights and signed over her minimize of income when any of her solo recordings—together with 10 studio albums and two reside albums—are performed or offered, BMG announced in a press launch.
Turner, 81, will be inducted into the Rock & Roll Corridor of Fame as a solo artist on October 30, having been inducted in 1991 as half of a duo together with her ex-husband, Ike Turner.
Key Background
Conventional music corporations and buyers have been buying tune catalogues from hit artists with the expectation that music streaming—which pays copyright holders small quantities every time a tune is performed—will likely be a long-term source of revenue. BMG has purchased or represents tune rights for music by particular person members of the Beatles, Rolling Stones, Fleetwood Mac, Pink Floyd and Nirvana.
Huge Quantity
$500 million. That’s the worth of the music catalog of Paul McCartney and John Lennon—who wrote a lot of the Beatles’ songs—making it the world’s most dear. Following McCartney and Lennon, Michael Jackson, Rodgers & Hammerstein and Bob Dylan all have catalogues price between $325 million and $375 million.
What To Watch For
BMG will purchase extra tune rights “within the coming weeks,” in line with its press launch.
Shocking Truth
Turner has been a citizen of Switzerland for nearly a decade, after shifting there in 1995 together with her companion, Erwin Bach, who she later married.
Additional Studying
Rights To Rodgers & Hammerstein’s Songbook Price Staggering Sum, Extra Than Bob Dylan’s Or Paul Simon’s (Forbes)
Inside Paul Simon’s Catalog Sale: At $250 Million, It is One Of Music’s Greatest (Forbes)
