Tina Turner chose to sell her rights to the music she had recorded. This was a controversial but lucrative decision that gave Tina Turner’s reported networth a major boost.
Tina Turner, the pioneering music icon who paved the way for modern rock and roll has died at age 83. Her official social media accounts confirmed this. The cause of death of the Rock n Roll Hall of Fame-inducted singer hasn’t been revealed at this time, but she had suffered from a range of health concerns in her older years.
Turner sold more than 100 million records in her career. The sale of these musical assets ensured that her net worth at her death was enormous.
Tina Turner’s reported net worth explored
Turner has been regarded by many as the world’s most influential music artist of contemporary times. He is a household brand that continues to be a worldwide phenomenon for more than eight decades.
It is not surprising that her net worth has been reported to be so high. According to Celebrity Net Worth’s most recent evaluation, Turner had a net worth of $250 million, meaning she left a quarter of a billion behind at the time of her death.
Throughout her career, Turner was recognized time and time again at high-profile award ceremonies, and her list of accolades included 12 Grammy’s and seven Billboard awards.
Fellow icon Mariah Carey paid tribute to Turner, describing the late star as “an incredible performer, musician and trailblazer”.
Tina Turner sells her catalog of music
Turner is a huge star and her net worth likely is largely due to her having sold her entire music catalog.
Turner had sold her exclusive rights for the entire discography of Turner to BMG in Germany back in October 2021. BMG received total control of all Turner’s recordings and publishing royalties as well as naming rights.
Forbes Here are some reports that the transaction was believed to be valued at over $50 million – at a hefty fee, though likely a beneficial one to BMG given the size of Turner’s discography, and the international reach her music had and will continue to have beyond her death.
Turner has shown that selling a catalog can be lucrative, even though it requires artists to give up their creative freedom.
Some stars have also sold their catalogue
Turner’s decision to sell her catalog may have been viewed as controversial by some, but she certainly wasn’t the only artist to do so in the last few years.
The following is a breakdown of the. Reportage Rolling Stone reports that a large number of artists, including some of the most famous, have traded in their catalogues. Tax benefits, health issues, and general temptation to be offered cash are all cited as possible reasons.
Bob Dylan, for example, is a recent major artist who has done this. In 2020, Lay, Lady Lay’s discography was sold to Universal in an estimated $300 million deal.
Taylor Swift began recording her albums again in 2021 after Scoter Braun, the owner of her record label, revealed to Shamrock Holdings that he had sold her catalog rights.