Sony Music, the world’s second-largest label, was the winner in the bidding war for the pop singer, paying Adele an astounding 90 million pounds (approximately $130 million) for the pleasure of her company. The deal will double the singer’s career earnings thus far, and make her one of the wealthiest musicians in the history of the U.K. — a list that she was already climbing steadily.
The 28-year-old was previously signed to independent British label XL, which initially made a deal with her almost 10 years ago, and for whom she brought in some serious cash over the years — 25 alone has sold more than 19 million copies since it came out in November.
Adele’s deal with XL expired this year, and many industry insiders expected her to jump ship for more money, though many didn’t anticipate such a massive sum for the change.
The new deal eclipses Whitney Houston’s $100 million contract with Arista Records from 2001, making the British songwriter the most valuable female artist of all time as far as labels are concerned. It’s important to note that 2001 was a very different time for record sales, and such a massive major-label deal is virtually unprecedented in the period since Houston signed it.
Then again, Adele is the only artist who can still sell almost 20 million records without putting a single track up on less-profitable streaming services, making her a singular sales force in the arid financial landscape of the industry at large.
