Tina Turner has made the dramatic move of selling her entire music catalogue in what must be a multi-million dollar deal.
The 81-year-old music icon has come to an agreement with music firm BMG to hand over her rights to her recordings, her name, image and likeness, and her publishing writers share.
She’s renowned as one of the greatest performers of our time, often dubbed the queen of rock ‘n’ roll, and is best known for the hit singles The Best, Proud Mary, River Deep – Mountain High, Nutbush City Limits, and What’s Love Got To Do With It?
It has not been revealed how much the deal is worth but the BBC cites industry sources who estimate $50million (£37m). Either way, it’s no doubt an eye-watering sum based on recent examples of other iconic artists who have sold off their work.
Bob Dylan is reported to have offloaded his catalogue for a staggering $300m (£215m), while Stevie Nicks is said to have signed a deal for $100m (£72m). Neil Young sold half of his for approximately $150m (£108m) earlier this year.
Even pop star Shakira has taken the plunge and sold her publishing rights to London-based music royalties investment firm Hipgnosis, co-founded by Chic icon Nile Rodgers.
Announcing the news, Turner explained: ‘Like any artist, the protection of my life’s work, my musical inheritance, is something personal.
‘I am confident that with BMG and Warner Music my work is in professional and reliable hands.’
BMG chief executive Hartwig Masuch added: ‘Tina Turner’s musical journey has inspired hundreds of millions of people around the world and continues to reach new audiences.
‘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.’
It’s said BMG’s acquisition of Turner’s rights is part of the company’s wide plan to make it the ‘21st century home for the most iconic music rights in popular music history’. There will be more announcements in the coming weeks.
The news comes as Turner carves out a new life for herself out of the spotlight.
In March, the legend released a documentary about her life and career as an opportunity to say goodbye to fans worldwide, and bow out of the public eye.
One scene featured Turner visiting the Broadway premiere of her stage show The Tina Turner Story, as her husband Erwin Bach said on-camera: ‘She said, “I’m going to America to say goodbye to my American fans and I’ll wrap it up”. And I think this documentary and the play, this is it — it’s a closure.’
Looking back on her various ordeals, Turner said: ‘It wasn’t a good life. The good did not balance the bad.
‘I had an abusive life, there’s no other way to tell the story. It’s a reality. It’s a truth. That’s what you’ve got, so you have to accept it.’
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