Universal Music Group to manage Prince’s NPG and unreleased recordings
Deal Encompasses Prince’s Grammy-Winning NPG Records, Hits from Earlier Catalogs and Vast Collection of Unreleased Works.
Universal Music Group announced on February 9 a multi-year agreement with the Estate of Prince Rogers Nelson and NPG Records Inc., effective immediately, that grants UMG exclusive licensing rights to the iconic artist’s Grammy-winning NPG recordings, including a library of 25 albums and his highly anticipated trove of unreleased works.
With this agreement, UMG becomes the home for Prince’s music publishing, merchandise and much of Prince’s recorded music. 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 NPG Records, a label founded by the artist that includes 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. In addition, beginning next year UMG will 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 more than 100 million albums worldwide, making him one of the most successful artists of all time. Prince was inducted into the Rock and Roll Hall of Fame in 2004, his first year of eligibility.
© Photo: Jordan Strauss.