Adele to sign a $130 million record deal with Sony Music
LOS ANGELES, May 23 (UPI) — Adele is expected to sign a new contract with Sony Music for more than $130 million, making it the richest deal for a female artist in music history.
The total deal could be worth $130.5 million, sources are reporting. A Sony Music source described the deal as “massive.” It will easily top Whitney Houston’s 2001 deal with Arista for $101 million and will also be the top for a British musician.
“Adele’s deal with her original label, XL, expired and we’d an existing relationship with her in America,” said the Sony source. “The deal is being worked on by our Columbia label in the US, but is worth $130.5 million and gives Sony the rights to release her future music exclusively around the world.”
The 28-year-old singer from Tottenham, North London, is seeming to defy current record company logic as piracy and streaming services continue to eat into album sales.
Adele’s deal was reportedly negotiated by her manager Jonathan Dickens.
An Adele spokesperson had no comment on the potential deal.