Legendary singer Tina Turner has sold the rights to her music catalog to music publishing company BMG, the New York Daily News reports.
The iconic performer sold the her artist's share of her recordings, her music publishing writer's share, neighboring rights and name, image, and likeness as part of the deal, according to BMG.
Although the company did not disclose the financial terms of the deal, some industry experts estimate the deal is worth more than $50 million, Music Business Worldwide reports.
In a career that has spanned over 60 years, Turner has amassed hits such as “What’s Love Got To Do With It,” “We Don’t Need Another Hero,” “Better Be Good to Me” and “The Best.” In a statement, she said that her music was in “good hands” when news of the transaction went public.
Hartwig Masuch, CEO of BMG described Turner as “truly and simply the best” and said the plan is to reintroduce her work on streaming platforms and social media that will reach a new audience. Turner, who is now a citizen of Switzerland, had retired from performing since 2009.
Recently, music companies along with investors have been buying song catalogs from artists with the expectation of providing a long-term source of revenue. BMG has purchased or represents song rights for several musicians.
Turner joins other music legends including Neil Young, Bob Dylan, and Stevie Nicks who have made similar lucrative deals.
