British pop star singer Adele has reportedly signed a £90m (around $130 million) contract with Sony records, the biggest record deal in history for a British musician.
Since the start of her career, the 28-year-old Skyfall singer has been signed to music label XL Recordings (home of Radiohead, Vampire Weekend, Jack White) which released her ‘19’, ‘21’ and ‘25’ albums. But Adele’s contract with XL has expired, which has given Sony the opportunity to sign the star.
Adele’s Sony Music contract tops the £80million EMI paid Robbie Williams in 2002. It is also the most valuable for a woman, eclipsing Whitney Houston’s £70million from Arista in 2001.
According to this year’s Sunday Times Rich List, the singer who is already worth £85million, will have her fortune doubled to include more than £35m in sales from her latest album, 25.
Adele’s £85m fortune makes her the richest British female singer of all time, though her refusal to take on any endorsement deals means her earnings lag well behind American counterparts such as Beyoncé and Taylor Swift.
An anonymous source at Sony yesterday, hinted that they had secured a massive deal with Adele, who’s without doubt the biggest music star in a generation.
The source said the £90m deal had been arranged through Sony’s US label, Columbia, and “gives Sony the rights to release her future music exclusively around the world”.
The scale of the deal for Adele, from Tottenham, North London, is remarkable in an era when piracy and streaming services have diminished album sales. However, neither Sony nor XL Recordings have confirmed this new deal with Adele.
Adele became Britain’s richest female musician after making £35million last year. She has sold more than 10 million copies of her debut album, 19, and 30 million of her second album, 21. Her third, 25, was another huge hit.
In addition to her new mega deal, her fortune will soar this year thanks to earnings from her sell-out 105-date arena tour.