24 May 2016
Adele has just signed a multi-album contract with the Sony record label with a headline value of £90m. If it is paid out in full would it be the biggest record deal in history.
The deal was brokered by Adele’s manager, Jonathan Watkins. Though Sony Music, or Adele’s management have not commented on the contract, American entertainment industry sources said that Sony had “secured Adele, who’s without doubt the biggest music star in a generation. This is massive”.
The deal gives Sony the rights to release her future music exclusively around the world.
Tim Ingham, industry commentator and founder of Music Business Worldwide, said now felt like the “perfect time” for Adele to move to a major label.
He said, “Adele will be able to exert more influence on her own career whilst also getting guaranteed blockbuster spending and promotion. And from Sony’s perspective, Adele is the closest thing it comes to a guaranteed bet.”