Prince's Estate Signs Publishing Deal With Universal Music
The Universal Music Publishing Group (UMPG) struck a deal with the estate of the late musical icon Prince, and is now the sole distributor of his entire music catalog.
In a statement, the group said that they are now “responsible for servicing and administering Prince’s expansive catalog of songs," and will work with his estate to develop new ways to release his music, which includes both released and unreleased material. Up until his passing this past April, The Purple One and his staff were in charge of all publishing aspects of his music catalog. Through the deal, all new releases from Prince will fall under UPMG.
"We’re humbled to be entrusted with Prince’s catalog and I’m grateful to my entire team for their work in making this agreement a reality," said UMPG chairman and CEO Jody Gerson. "With the timelessness and genius of Prince’s music, there are no limits to what we can achieve working with his estate. Prince’s popularity will only continue to grow around the world.” Prince's advisers are still considering various offers when it comes to the licensing right's of the catalog in its entirety, reports say.
New music from the musician is on the way. A 'greatest hits' compilation, Prince 4Ever, will be released later this month, while a reissuing of Purple Rain with never-released songs will drop in 2017.