Prince Inks New Deal with Warner, Takes Ownership of Classic Catalog
April 18, 2014
|Prince and Warner Bros. Records today announced a new agreement that will see the release of long-awaited, previously unheard music, while giving the artist ownership of the master recordings of his classic, global hits. At the same time, the deal extends Prince’s relationship with Warner Bros. Records, through an exclusive global licensing partnership that covers every album released from 1978 into the nineties. The financial terms of the agreement were not disclosed.
For Prince fans worldwide, the new partnership will open a veritable goldmine. The surprise announcement comes just in time for this summer's 30th Anniversary celebrations of the artist's breakthrough album and film, Purple Rain, which were released in 1984. For the first time, Prince will be releasing a digitally re-mastered, deluxe version of this classic album. Other planned projects will follow.
Prince said, "A brand-new studio album is on the way and both Warner Bros. Records and Eye are quite pleased with the results of the negotiations and look forward to a fruitful working relationship."
"Everyone at Warner Bros Records is delighted to be working with Prince once again: he is one of the world's biggest stars and a truly unique talent" said Cameron Strang, Chairman & CEO, Warner Bros. Records. “We are also very excited about the release of new and re-mastered music from one of his greatest masterpieces.”