Music
Adele signs one of the biggest record contracts in history
by Richard Howard
May 26, 2016
Adele's now making pro-sports superstar money.
The sentence “Adele has been killing it” is about as “duh” inducing as the as, I dunno, “Paris Hilton’s music career wasn’t very good.” With her last album 25 estimated as selling 20 million units, she’s now sold about 60 million records worldwide. Even with those numbers (which crush pretty much every other artist’s) and lucrative world tours, she doesn’t earn the type of cash many of her colleagues do due to a refusal to take on endorsements.
Of course, when you cap off consistently putting out critical and commercial gold with one of the biggest singles of all time, the rules tend to change. Turns out Adele don’t need no stinkin’ endorsements, as she’s reportedly signed a $170 million contract with Sony Music. It’s rumoured that the deal, in which Adele would leave independent label XL Recordings where she’s been since she was 19, was brokered as long ago as Christmas. It’s said to be a done deal, but so far, none of the parties involved are confirming anything.
Okay, so just how meaty of a deal is it? Well, talking strictly numerically and ignoring inflation, it’s the biggest deal ever signed by a British musician, as well as the most lucrative for a female artist (that’s including Whitney Houston and Madonna).
And while not impossible, it’s unlikely that Adele would agree to a 360-deal where the label would gain partial control of all aspects of her music (especially publishing) – which would set her apart from many of the artists still signing big-money contracts today.
To put it another way, Adele’s now making pro-sports superstar money. Looking at the NBA’s biggest names, Kevin Durant was given about CAD $116 million for five years by OKC, and King James was awarded $61 million over 2 years by the Cleveland Cavaliers. Obviously, the structures are different (yearly Vs. number of albums, conditions etc) but the fact is, she’s in the same conversation. The interesting thing is this deal shows a great del of unlike-a-major-label faith in Adele.
Known to avoid heavy touring as well as take her time in releasing albums, Sony may find itself sitting on its hands quite a bit. Of course, if she can replicate the success of her last three releases, they know when they do get off their hands it’ll be to make it rain all over their million-dollar offices. [h/t National Post]
