Harry Styles signs 80m record deal
Harry Styles has reportedly signed an $80 million solo record deal.
The One Direction singer has joined forces with Columbia Records for a three-album deal, although there is no timeline in place for when fans can expect his new material.
According to HitsDailyDouble: "Apple offered $25m for one album, which set the bar high and drove up the offers to the extent that the winning bid was in the $75-80m range for three albums. Such a deal would have a break-even point of five million units worldwide, not including marketing costs or streaming income."
Billboard previously revealed that Harry had signed with Columbia and last year four songs written by him were registered by the American Society of Composers, Authors and Publishers (ASCAP).
The hunk is also keen to forge a movie career and is currently filming Christopher Nolan World War II drama, ‘Dunkirk’.
In August, it was reported that Sony Music – which owns Columbia – were keen to sign the 22-year-old star for a solo record deal.
A Sony insider revealed at the time: "Harry has always been One Direction’s most popular member and it’s obvious that we want to secure him. He’s a global superstar.
"Zayn will get to release an album first, as he left the band earlier, but the most excitement is about what Harry is going to do.
"Everyone wants to know what his solo material will sound like, there’s also a lot of pressure to get it right.
"Harry is a smart guy and is really good at surrounding himself with talented people."
One Direction – also made up of Louis Tomlinson, Liam Payne and Niall Horan – announced last year they were going on an indefinite hiatus.
Former 1D member Zayn Malik is now a solo artist after quitting the band in March 2015 and releasing his debut album exactly one year later.