Adele is getting ready to sign a massive record deal.
The $130 million contract with Sony Music (SNE) will be the biggest record deal ever awarded to a British artist. The Sun reports that she’s breaking Robbie Williams’ record of $125 million, a deal he signed with record label EMI in 2002.
Additionally, she surpassed Whitney Houston’s $100 million contract with Arista Records in 2001, meaning that Adele will also be signing the biggest record deal by any female singer. The contract will be the fourth largest record deal of all time, right behind Jay Z’s $150 million deal with Live Nation in 2008.
Adele is “without a doubt the biggest music star in a generation. This is massive,” a Sony source told the Sun. Once her previous contract with independent record label XL Recordings expired, the multinational corporation snatched her up. This contract gives Sony the exclusive rights to release her music.
The singer is currently worth more than $120 million, and is already the wealthiest female musician in Britain.
But this deal is just as significant for Sony. “The industry’s been through massive changes in recent years,” a senior music industry insider told the Sun, likely referring to streaming services and piracy, which have had a serious impact on album sales. “A handful of big-name acts like Adele, Coldplay, 1D, and Ed Sheeran have been keeping it in business.”