Tina Turner sells entire catalogue to BMG

[Varys 30,751]

Publisher BMG takes on shares of recordings and image management of ‘queen of rock’n’roll’ in its biggest single artist deal

Tina Turner has sold the rights to her music catalogue spanning six decades, including hits such as What’s Love Got to Do With It, and Private Dancer, to the music publishing company BMG.

The “queen of rock’n’roll” sold her artist’s and writer’s shares of her recordings, as well as the management of her name, image and likeness, in the largest deal struck with a single artist in BMG’s history. The sums involved were not disclosed.

Turner, 81, is the latest big artist to cash in on the rocketing value of evergreen hits in the streaming era, following in the footsteps of Bob Dylan’s $300m deal with Universal Music, and Neil Young’s agreement with the music company Hipgnosis.

 

The streaming revolution has created a gold rush for artists’ royalty rights, and for ageing stars it is increasingly forming an important part of estate planning.

Turner, who will continue to be a recording artist on Warner Music’s books following the deal, acknowledged the need to plan. “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.”

Turner's back catalogue includes massive hits such as What's Love Got To Do With It, GoldenEye and of course Simply The Best, as well as 10 studio albums, two live albums, two soundtracks and five compilations.

Altogether, Turner, who will remain as a client of Warner Music, has shifted more than 100 million albums over her career.

Among the other musicians to sell of their rights recently include Bob Dylan, who was thought to have shifted his back catalogue for $300m (£215m), Stevie Nicks, in a deal reportedly worth $100m (£72m), and Neil Young - who sold half of his back catalogue for an estimated $150m (£108m).

https://www.theguardian.com/music/2021/oct/06/tina-turner-sells-rights-to-her-music-catalogue-spanning-60-years

https://news.sky.com/story/tina-turner-becomes-latest-music-star-to-sell-off-back-catalogue-after-reaching-agreement-with-bmg-12426667

[bionic 37,905]

Is this another one of those tax-evading schemes?

[Schwerk 6,490]

12 minutes ago, bionic said:

Is this another one of those tax-evading schemes?

No, I don't think so. She's in the final chapter of life and wants to be sure her legacy is in the right hands and she can have her finances in check. 

[Supersonic 49,376]

18 minutes ago, bionic said:

Is this another one of those tax-evading schemes?

She's a Swiss citizen (aka has direct access to a tax haven per citizenship) and she's 81 years old. She's probably aware of the fact that she doesn't have a lot of time on earth left and wants to do her final business actions while she's still alive, and not have her legal heirs have to take care of a lot of unfinished business when she's dead. 

[berlinforme 4,996]

22 minutes ago, bionic said:

Is this another one of those tax-evading schemes?

I mean, why wouldn't you sell the rights to your music at her age? Streaming only generates money in the long run (unless you're one of today's most streamed artists). For her it might make more sense to get a huge sum of money now than small amounts drippling into your bank account every year. 

[Not The Real Gaga 7,264]

She remains simply the best! Such a Queen.