UMG GETS THE KEYS
TO PRINCE'S VAULT
The Estate of Prince Rogers Nelson has granted Universal Music Group the exclusive licensing rights to Prince’s NPG recordings, a library of 25 albums, and a trove of unreleased works.
UMG may start to paint its walls purple as it now houses Prince’s music publishing, merchandise and much of his recorded music. UMG says it will create innovative new products and experiences.
The 25 albums include his later work Emancipation, Musicology and 3121, but the buried treasure in this deal comprises the outtakes, demos and live recordings that date back to the start of his recording career in 1979.
“It’s an absolute honor to once again be selected by Prince’s estate to be the home for publishing, merchandise and now for so much of his incredible body of recordings,” Sir Lucian Grainge said. “UMG is committed to honoring Prince’s legacy and vision by creating the highest quality products and experiences.”
Michele Anthony, Executive Vice President of UMG, added “Having worked with Prince on-and-off for 20 years, I was fortunate to experience his incomparable passion, creativity and pursuit of perfection. It’s an honor professionally and personally to be entrusted with these cherished recordings, including his storied ‘vault’ of unreleased music, and to partner with his estate and heirs to preserve and expand Prince’s legacy.”
L. Londell McMillan, Chairman and CEO of The NorthStar Enterprises Worldwide, and Charles Koppelman, Chairman and CEO of CAK Entertainment Inc., represented Prince’s estate.
The next question to be answered from the Prince camps: Will his catalog go live on streaming services this weekend, as has been rumored? Stay tuned.
