Music company BMG claimed it secured its single largest artist acquisition ever by purchasing Tina Turner's entire musical catalog for at least $50 million.
The deal includes Turner's name, image, and likeness as well as her publishing and neighboring rights. While BMG declined to disclose the exact value of the deal, music insiders estimate that Turner was paid at least $50 million.
"We all know how iconic Tina's work is," said BMG CEO, Hartwig Masuch. "When you look at the dimensions Tina's career has entered even in the last few years between musicals and documentaries, there's still so much untapped potential with her legacy."
Masuch, who's close with Turner and her husband, reportedly spoke about the music acquisition space for over a year before engaging in serious discussions about three months ago. While BMG will be in charge of Turner's royalties and assets, Warner Music will still serve as her record company. BMG plans to work closely with Turner and Warner on reintroducing her music to streaming audiences.
"This isn't a one-dimensional market anymore," Masuch said. "With Warner and Tina, we want to expand reach and influence new audiences. What's the YouTube strategy, what do we do with TikTok? You have to be far beyond any approach where you're just releasing a best-of album every four years or selling rights for a documentary."
In a statement, Turner talked about the recent deal and said, "Like any artist, the protection of my life's work, my musical inheritance, is something personal. I am confident that with BMG and Warner Music, my work is in professional and reliable hands."
Tina Turner Reportedly Sells Catalog, Name, Image & Likeness for $50 Million
The deal includes Turner's name, image, and likeness as well as her publishing and neighboring rights. While BMG declined to disclose the exact value of the deal, music insiders estimate that Turner was paid at least $50 million.
"We all know how iconic Tina's work is," said BMG CEO, Hartwig Masuch. "When you look at the dimensions Tina's career has entered even in the last few years between musicals and documentaries, there's still so much untapped potential with her legacy."
Masuch, who's close with Turner and her husband, reportedly spoke about the music acquisition space for over a year before engaging in serious discussions about three months ago. While BMG will be in charge of Turner's royalties and assets, Warner Music will still serve as her record company. BMG plans to work closely with Turner and Warner on reintroducing her music to streaming audiences.
"This isn't a one-dimensional market anymore," Masuch said. "With Warner and Tina, we want to expand reach and influence new audiences. What's the YouTube strategy, what do we do with TikTok? You have to be far beyond any approach where you're just releasing a best-of album every four years or selling rights for a documentary."
In a statement, Turner talked about the recent deal and said, "Like any artist, the protection of my life's work, my musical inheritance, is something personal. I am confident that with BMG and Warner Music, my work is in professional and reliable hands."
Tina Turner Reportedly Sells Catalog, Name, Image & Likeness for $50 Million
