List of largest music deals
The following is a list of the largest music deals in history signed by artists, including recording contracts and multi-rights agreements with over $50 million, as well catalog acquisitions with a reported sum of over $150 million.[b] Some figures might not be entirely accurate, as some multi-million-dollar contracts were reportedly misrepresented or exaggerated,[1][2][3] and many were just media estimations. Therefore, no rankings are given.
An early recorded five-figure deal in music history was reported by The Music Trades magazine in the late 1910s, made by American composer John Stepan Zamecnik.[4] The 1960s saw contracts with six-figures such as an advance deal for $143,000 to Led Zeppelin (Atlantic Records) in 1968, then the biggest deal of its kind for a new band.[5] The 1970s saw a rise in millionaire recording contracts, starting with a deal made by The Rolling Stones in 1971, which represented "a new benchmark in industry contracts", according to Billboard, and became the largest contract ever made by that point.[6] In a short span of years, Neil Diamond signed a $4–5 million deal with Columbia Records, which was later superseded by Paul McCartney's Capitol Records and Elton John's MCA Records deals of $8 million each, as well as Stevie Wonder's 1975 deal with Motown valued at $13 million,[c] reaching a new peak in the industry.[8][9] The 1980s saw more contracts of eight figures, including record-breaking Diana Ross's $20 million contract with RCA Records in 1980,[10] or the Rolling Stones with CBS Records for $28 million in 1983.[11] An increase of blockbuster deals began in the 1990s, with top-signing artists such as Janet Jackson, Michael Jackson, Madonna and Prince each exceeding the $40–60 million marks,[12][13] making multiple appearances in the Guinness World Records.[14] Up until 2016, only a few recording and multi-rights contracts outpaced the $100 million mark.[15] The largest music deals belong to catalog acquisitions which include songwriting and publishing rights, with an increase in the late 2010s and early 2020s.[16][17] The Estate of Michael Jackson made the largest posthumous deals, followed by David Bowie.
Multi-million-sized music deals have often raised skepticism and been criticized in corporate terms for bi-directional disadvantages,[18][19][15][20][21][22] including Prince's 1992 contract with Warner Bros deriving a contractual dispute.[18] Referred by a contributor from Forbes to as "the best-known and most-cited example" among misadventured contracts,[15] Mariah Carey's 2001 deal with Virgin Records marked "the first time that a major music corporation decided to cut its losses on a superstar agreement", according to The New York Times.[23]