Agency Report

Legendary American hitmaker, Tina Turner, has sold her music rights in a major deal with BMG, the record publisher announced on Wednesday, the latest legacy artist to cash in on their extensive catalogue.

The terms of the deal were not disclosed, but BMG said it includes all of Turner’s artist’s share of her recordings and her music publishing writer’s share, as well as neighboring rights and name, image and likeness.

Turner, 81, has sold over 100 million records. Warner Music will remain the Grammy-winner’s record company, BMG said.

“Like any artist, the protection of my life’s work, my musical inheritance, is something personal,” Turner said in a statement released by BMG, saying she was “confident” her work “is in professional and reliable hands.”

The sale is part of a song rights purchasing boom as financial markets increasingly are drawn to the lucrative portfolios as an asset class.