The star signs a six-album deal...
ROBBIE WILLIAMS has sealed his multi-million pound deal with EMI in LONDON this afternoon (October 2), the biggest in British music history.
The estimated £80million deal is second only to [a][/a]’s in music.
Williams would not be drawn on the specifics of the six album deal telling reporters at a press conference in London today (October 2) that his mother said it was “uncouth” to discuss money. But he added: ” I am rich beyond my wildest dreams.”
EMI described the signing as “truly groundbreaking” and “highly innovative”. It contains a commitment to try to make Williams a star in the lucrative US market, where he has only had limited success to date.
It is understood the agreement includes £10million up front, for which Williams will deliver forthcoming new album ‘Escapology’, and £15 million on the next album, with £55 million for the remaining four.
However reports that Williams gets his hands on his back catalogue are not true, an EMI spokesperson told NME.COM this afternoon. “EMI own the masters to his existing back catalogue,” she said.
It has also been suggested that EMI will receive a profit share on concert tickets and merchandise. The label has also made a commitment to embrace new media, such the Internet and DVDs, while promoting the star.
“EMI is looking forward to working with Robbie and continuing our unprecedented success, which has broken all records in five short years,” EMI Chairman Tony Wadsworth said. “There’s only one Robbie Williams and we’re proud to be his label.”
The news helped raise EMI share prices during early trading on the London Stock Exchange this morning. Robbie putting pen to paper will be good news for the company who have been in the doldrums since their multi-million embarrassment with Mariah Carey in January.
Carey was dumped one album into her five-album deal, with a £19 million kiss-off. She had signed to EMI subsidiary Virgin in April 2001 for an estimated £70 million, one of the most lucrative deals in the recording industry’s history.