Tina Turner Sells her music collection for $50 Million
Rock ‘n’ roll legend (and this writer’s favorite) Tina Turner announced she has sold rights to her music catalog to BMG, the music company announced Tuesday.
The deal apparently also includes rights to her name, image and the artist’s and writer’s shares of her recordings. Turner, who has sold more than 100 million records will partner with TBMG in her music interests, and Warner Music will continue to be Turner’s record company, according to the announcement. BMG CEO Hartwig Masuch provided his comments in the accompanying news release.
“Tina Turner’s musical journey has inspired hundreds of millions of people around the world and continues to reach new audiences,”. “We are honored 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.” Turner herself also was quoted as saying; “Like any artist, the protection of my life’s work, my musical inheritance, is something personal,” Turner said. “I am confident that with BMG and Warner Music my work is in professional and reliable hands.”
Turner, now 81 years young, has been the recipient of 12 Grammy awards and will be inducted later this month into the Rock & Roll Hall of Fame for the second time. She is just the latest famous singer to sell their music catalogs. In December 2020, Bob Dylan sold his entire catalog to the Universal Music Group for an estimated $200 million, according to a source familiar with the deal. Then, a month later, legendary folk rocker Neil Young sold 50 percent of his song catalog to the Hipgnosis Songs Fund, a U.K. investment vehicle founded by music industry veteran Merck Mercuriadis for amount that was not disclosed.
You really can’t blame any of them; why not take the money now and enjoy the fruits…