Adele to sign a $130 million record deal - report
Adele is reportedly set to sign a $131 million record deal with Sony Music.
The Rolling in the Deep singer is reportedly about to close a deal to move from her current label XL Recordings to Sony Music, and the staggering $131 million contract will bring her fortune to $254 million , according to Britain's The Sun newspaper.
“We have secured the biggest music star in a generation. This is
massive," a source told the publication. “Adele’s deal with her
original label XL expired and we’d an existing relationship with
her in America...
“The deal is being worked on by our Columbia label in the US, but
is worth £90million and gives Sony the rights to release her future
music exclusively around the world.”
The contract will reportedly be the most lucrative contract given
to a British artist, topping the $116 million British pop star
Robbie Williams was paid to move to EMI in 2002. It will also be
the largest ever deal handed to a female musician, with the
previous leader being the late Whitney Houston, who was given $102
million by Arista in 2001.
Adele, who was already named Britain's richest female musician in
the 2016 Sunday Times Rich List, with an estimated $123 million
fortune, earlier this year (16), has her manager Jonathan Dickens
to thank for the new deal.
"Jonathan's been putting it together for a couple of years. He was
very aware of her worth in the market and stood firm to push for
the £90 million," the music source added.
The news comes after the 28-year-old scored five prizes at the
Billboard Music Awards on Sunday night (22May16), for Top Artist,
Top Female Artist, Top Selling Song (Hello), Top Billboard 200
Artist, and Top Billboard 200 Album for 25.
She didn't attend the Las Vegas show in person as she is currently
on tour, but she sent in video acceptance speeches to thank her
fans.