Warner Music Group said on Thursday it would buy celebrated French DJ David Guetta’s recorded – music catalogue from the last two decades, and sign a new deal with him for future recordings.
The movel will add Guetta’s body of work to the world’s third – largest recording label that is home to artists including Cardi B, Ed Sheeran and Bruno Mars.
Known for his collaboration with artists such as Akon, Snoop Dogg and Kid Cudi, Guetta has 50 million record sales and more than 14 billion stream to his name to date.
Guetta, best known for revolutionizing the electronic dance music space in the early 2000s, has also worked with Rihanna, Justin Biber and Nicki Minaj, and has won two Grammy Awards.
‘I’m supper 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’, Guetta said in a ststement.
Guetta is currently the right – most listened to artists in the world by monthly listeners on audio streaming platform Spotify.
‘A lot of people appeoaches us to express interest in David’s catalogue’, Jean – Charles Carre, David Guetta’s business partner and manager, said.
Warner Musis did not disclose financial details of the deal did not immediately respond to a Reuters request for comment.
The Financial Times on Thursday reported the deal size was above $100 million, citing a person familiar with the matter.