17-time Grammy-award winner Sting has sold his music catalogue to Universal Music Publishing Group (UPMG) for up to £221mln (US$300mln), according to reports today.
The deal to offload Sting’s back catalogue, which covers all of his solo work and the songs by The Police, is the latest to be completed by a music giant.
The British singer and songwriter is best known for his worldwide hits Every Breath You Take, Roxanne, Fields of Gold and Shape Of My Heart.
“It is absolutely essential to me that my career’s body of work have a home where it is valued and respected – not only to connect with long-time fans in new ways but also to introduce my songs to new audiences, musicians and generations,” Sting said.
The deal, which was announced Thursday, is up there with the largest of its kind and was valued in the same bracket as UMPG’s acquisition of Bob Dylan’s catalogue in January.
The largest sum paid for a musician’s publishing rights was Bruce Springsteen’s back catalogue and bought by Sony for US$500mln, according to weforum.
Money has flooded into music rights recently as streaming platforms like Spotify and Apple Music continue to grow and generate sales for rights holders.