When’s the best time to renegotiate your recording contract? When you have two singles riding in the Billboard top 10. Bryan Adams, whose “All for Love” (performed with Sting and Rod Stewart) and “Please Forgive Me” were Nos. 7 and 9 respectively last week, may be the latest rocker to join the multimillion-dollar-contract club. Sources say he’s about to ink a $30 million, multi-year deal with his label, A&M Records.
A&M declines to comment on the negotiations, but observers say the label may have had no choice but to ante up. Its superstar roster has dwindled to Sting and Adams since Janet Jackson bolted to Virgin Records in 1991. “If you’ve only got one or two multi-multi-platinum artists, you got to take care of them,” says an exec at a competing label. “No price is too high, ’cause if you lose them, you lose face.”