Prepare for the 'royalties': the 17 year-old pop sensation signs with Songs Music after fevered bidding.
New Zealand pop star Lorde has signed a publishing contract rumoured to be worth up to £2.5 million after her single 'Royals' topped the UK chart last month. The just-turned-17 singer's signature was fought over in a major bidding war which is said to have included Sony and the publishing arm of her label, Universal.
Unlike with a label, music publishing deals give a company the right to license songs and hold copyright. When a song is used commercially, the company will work to ensure that a fee is paid which is then usually split between the songwriter and the company.
However, the Auckland-born performer and youngest chart topper in 25 years apparently did not opt for the most lucrative deal on the table when she signed with Songs Music Publishing. The company's founder and CEO Matt Pincus, did not specify the exact amount of the deal, but revealed it was "competitive" and in the millions of dollars, reports the Wall Street Journal, via The Telegraph.