Tina Turner sells back catalogue for a reported £225million
Tina Turner has become the latest artist to sell the rights to her back catalogue – the new deal with BMG is reportedly worth more than $300million (£225m).
Over the past year, a host of artists have sold their publishing rights, including the likes of Bob Dylan, whose ownership of over 600 songs spanning a period of almost six decades was sold to Universal Music Group for £225m.
Turner’s new deal, which encompasses music from over six decades, is the largest ever made with a single artist by publisher BMG, and includes hit singles ‘What’s Love Got to Do With It’ and ‘Better Be Good to Me’ alongside the rights to Turner’s name, likeness and image.
Revealing that she will still record new music as a Warner Records-signed artist, Turner told PA: “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.”
One company making the majority of recent deals regarding back catalogues is Hipgnosis Songs, who has spent $1billion (£720m) on acquiring artists’ back catalogues in the past year, it was revealed in July.
The investment company has made waves in recent months after purchasing the catalogues of artists including Lindsey Buckingham and Blondie, as well as Jimmy Iovine’s worldwide producer royalties and half of Neil Young’s songs in a deal thought to be worth an estimated $150million (£110million).
Earlier this year, Tina Turner released a new career-spanning film TINA, reportedly set to be her last public project.
Reviewing the film, NME wrote: “In TINA, classic live footage and engaging interview clips are arranged skilfully to create a powerful film that gives fans a look at Turner’s eventual happy ending.
“By reclaiming her stage name from Ike, she managed to sell 100 million records and kickstart a whole new solo career in the process. If this is to be Turner’s final public project – it’s a fitting way to punch out.”
