UMG To Manage Prince Recordings
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.