If reports are true, the deal will be the biggest ever handed to a British artist.
Adele’s already massive fortune is reportedly set to grow, if she signs a £90 million record deal with label Sony Music. The Sun reports that Adele is set to sign the massive contract in the coming weeks, which will be the biggest ever deal handed to a British artist.
Adele could be set to sign the biggest record deal ever given to a British artist.
A source at Sony told The Sun: “We’ve secured Adele, who’s without doubt the biggest music star in a generation. This is massive. Adele's deal with her original label XL expired and we had an existing relationship with her in America.”
"The deal is being worked on by our Columbia label in the US, but is worth £90 million and gives Sony the rights to release her future music exclusively around the world.” According to the newspaper Adele’s deal was negotiated by her manager Jonathan Dickens.
“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 £90million,” the source added.
If the deal goes through it will top previous mega-money contracts including the £80 million EMI paid Robbie Williams in 2002 and Whitney Houston’s £70 million from Arista in 2001, which at the time was the biggest deal a female artist had ever received.
Adele has already amassed a huge fortune and according to this year’s Sunday Times Rich List the Tottenham-born singer is already worth £85million. She’s also managed to continue to bring in money through album sales in an era when piracy and streaming services have shaken the music industry.
“A handful of big-name acts like Adele, Coldplay, 1D and Ed Sheeran have been keeping it in business,” the source added. “That’s why these deals are so important. Having an artist like Adele on the books will make a big difference to Sony over the next decade.”