Tina Turner has sold her entire music catalogue to BMG for a tidy sum of approximately $68 million.
While 68 million dollars seems like an impressive payday, Turner hasn’t just sold her music, she’s also sold the rights to her name, image, and likeness for future sponsorship and merchandising deals (so, basically she sold her soul to BMG).
If you’re unsure what selling a catalogue actually means, it basically means that the artist relinquishes any income rights or royalties to the music sold (or, in this case, her name too).
While the figure hasn’t been confirmed by either party, industry sources said the figure would be upwards of $50m (US), which is $68,521,750 AUD.
Turner is 81 years old and her career has spanned over 60 years. She’s the musician behind some of the biggest hits of all time, including ‘What’s Love Got to Do with It’ and ‘Proud Mary’ – both of which belong to BMG now.
“Tina Turner’s musical journey has inspired hundreds of millions of people around the world and continues to reach new audiences,” BMG boss Hartwig Masuch said of the deal.
“We are honoured to take on the job of managing Tina Turner’s musical and commercial interests. It is a responsibility we take seriously and will pursue diligently. She is truly and simply, the best.”
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Turner also made a public statement about the deal.
“Like any artist, the protection of my life’s work, my musical inheritance, is something personal,” she said. “I am confident that with BMG and Warner Music, my work is in professional and reliable hands.”
Warner Music is the record company responsible for distributing Turner’s music, and this will remain the same.
Tina Turner was one of 12 artists inducted into the Rock & Roll Hall of Fame this year. She was joined by Jay-Z, The Go-Go’s and Foo Fighters. Turner was previously included in the prestigious musical museum, as part of the duo Ike & Turner, but it was her first time as a solo artist.
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