Adele is a big name amongst British singers. She is the richest female singer in the UK. Since the age of 19, she has been working with the British label XL. Adele recently came up with her new album titled “25”. This was her third album which indeed skyrocketed her fame and popularity.
Seeing her growing popularity in the music industry Sony music decided to take over the exclusive rights of her music. For the past few years, Sony music has been negotiating for the deal with Jonathan Dicken(Adele’s manager). Till now the deal amount has not been disclosed officially but it is estimated that once the deal goes official it will be somewhat near $130 million. This indeed will make it one of the biggest deals in the recent times.
Earlier in 2012, Madona signed an exclusive and the most valuable deal with Live Nation. The deal was finalized at $120 million.
Once the deal is done, Sony will enjoy the exclusive rights to broadcast Adele’s music. Adele avoids coming to lime light , which is one of the terms and conditions that sony must take care of. Though Adele is the richest British singer but her earning lags behind other American singers which result from her refusal to engage in any endorsement deals. From her past few records, it has also been noticed that Adele is quite slow in producing and releasing her albums. Her music enjoys success however it takes Adele almost 4 years to release her new album.
Till now Adele has been working with British Independent label XL,which is a part of beggars group. Adele has proved to be a major success reason for the label. Now Adele is a big name amongst the famous singers. She has made her own independent identity. She can now switch to a big label that can boost her career. So the deal with Sony will affect the British label XL as for the last few years Adele was giving a major push to the label.