When Warner takes over: David Guetta sells back catalogue
French DJ David Guetta has sold his back catalogue to Warner in a deal worth a reported $100m (£72m), it was announced today.
The producer, who has 50m record sales and more than 14bn streams to his name to date, is the latest in a string of artists to sell off their songs.
The label also signed a new deal with Guetta, who has worked with dozens of other artists, and won two Grammy awards.
In a statement, he said: “I’m super excited about the new music I’m working on … This is the right time to renew my creative partnership with my trusted team at Warner Music.”
Warner did not disclose the details of the deal, but the FT and BBC both reported that the deal was would net Guetta $100m.
“It’s rare for an artist to not only define a genre, but transform it,” said Warner Music boss Max Lousada in a statement. “David has been doing that for over two decades.
“He continues to have an extraordinary impact on the evolution of dance music, while innovating and collaborating with new voices in dynamic ways.”