UMG To Manage Prince Recordings
UMG Universal Music Group (UMG) yesterday announced a multi-year agreement with the Estate of Prince Rogers Nelson and NPG Records Inc., granting UMG exclusive licensing rights to Prince’s Grammy-winning NPG recordings, including a library of 25 albums as well as his highly anticipated trove of unreleased works. With this agreement, UMG becomes the home for Prince’s music publishing, merchandise and much of his recorded music. As the release poetically states, “The deal provides an opportunity for UMG to work closely with Prince’s Estate and heirs to delight and thrill fans of all ages by creating innovative new products and experiences spanning the Rock & Roll Hall of Fame inductee’s many artistic outlets.”
Under the terms of the deal, the Estate is licensing to UMG the 25 albums that Prince released through his NPG Records, including the Double Platinum- and Gold-certified albums Emancipation, Musicology and 3121. The agreement also provides for UMG and the Estate to collaborate with regard to Prince’s vault of prized unreleased works from throughout his career, including outtakes, demos and live recordings. And beginning next year UMG will also obtain U.S. rights to certain renowned Prince albums released from 1979 to 1995.
In making the announcement, Sir Lucian Grainge, Chairman and CEO of UMG, said, “Prince was one of the greatest musical talents of all time — an incomparable genius as a performer, recording artist and songwriter. 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. UMG is committed to honoring Prince’s legacy and vision by creating the highest quality products and experiences.” During a four-decade career, Prince sold over 100 million albums worldwide and was inducted into the Rock and Roll Hall of Fame in 2004, his first year of eligibility.
