Prince Music Vault Worth $35 Million; ‘Purple Rain’ Deluxe in the Works
Prince’s treasured music vault now has a monetary value. According to Billboard, the late musician’s unreleased songs are reportedly worth $35 million. The Prince estate is currently in the middle of a bidding war between three major record labels who are eager to own the late Purple One’s musical works.
An insider reportedly told Billboard that a deluxe edition of Purple Rain is also in the works - as part of the artist’s 2014 deal with Warner Bros. - and will most likely be released in early 2017.
As for what is exactly in Prince's vault, Billboard reports that it contains thousands of hours of music recorded over four decades. There's no word if Prince's estate has categorized the music and who actually owns the catalog (that's currently being sorted out in the courts).
Since Prince apparently didn't leave a will, it has made appointing a manager of the estate very complicated. For now, Tidal remains the only place where you can hear some of Prince's music.
Tonight (Oct. 13), a star-studded Prince tribute concert will be held in Minneapolis. Soul icons Stevie Wonder and Chaka Khan are just some of the big-name talent set to perform at the event. Other artists on the bill include Anita Baker, Tori Kelly, Doug E. Fresh and Luke James as well as Morris Day and the Time and Mint Condition.