In what is seen as a precursor to getting Prince’s vast music catalogue put back onto streaming services, such as Spotify and iTunes, took a step closer as a licensing deal is signed between Bremer Trust (the company managing the late musician’s estate) and Global Music Rights.
As it is anticipated there will be a tribute to Prince for the upcoming 2017 Grammy Award Ceremony, to be held at the Staples Centre on 12 February, it’s clear there is a push to get the catalogue online by then. Furthermore, Universal’s merchandising arm, Bravado, has been granted the global rights to administer the estate’s branding and licensing. The arrangement promises fans, “new and exciting opportunities to connect with their favourite artist.” Bravado works with the likes of Katy Perry, Kanye West and Lady Gaga.
Prince remains very bankable. In its end of year review of the most search prhases in 2016, Google revealed Prince was the 4th global tending search term. Furthermore the The Very Best Of Prince, selling some 668,000 units in the wake of the icon’s death, was the 8th biggest selling album in the US in 2016.
All that glitters is gold
The arrangements come at a time as Bremer is hoping to resign the administration of Prince’s estate to another party, and have published their completed inventory of the icon’s estate.
Although the inventory did not account the value of Prince’s published music catalogue or unreleased songs (this will no doubt come at a later date), it did detail, that at the time of Prince’s death, he amassed some 67, 10-ounce gold bars which amounting to a value of $840,000. There is also $110,000 held in four bank accounts, plus a dozen properties with a combined value of $25.4 million. Paisley Park Enterprises, his NPG Record label, NPG Music Publishing possessed some $6 million in cash at the time of his death. He held no stocks or bonds.
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