by Shirley Halperin, Billboard Magazine |
Paul McCartney is returning to Capitol Records, signing a new worldwide recording agreement, the Universal Music Group label announces today.

What’s being billed as a “historic deal” will encompass McCartney’s entire catalog of master recordings beginning with the 1970 McCartney album. It also marks a return to the label where he started his solo career.

Says McCartney in a statement: “This is genuinely exciting for me. Not only was Capitol my first U.S. record label, but the first record I ever bought was Gene Vincent’s ‘Be-Bop-A-Lula’ on the Capitol label.”

In announcing the signing, Capitol also revealed that the former Beatle is currently working on a new studio album. Capitol/UMe will service the McCartney catalog — previously with Concord — beginning in July 2017.

Adds Capitol chairman and CEO Steve Barnett: “Paul McCartney’s association with Capitol has long defined so much of our historic legacy, and all of us here are extremely proud and honored that he has chosen to come back home. Paul’s indelible contributions to our culture are second to none, and his constant evolution as an artist and performer continues to inspire and enrich the lives of countless millions of people. We are overjoyed that Paul will be creating new music for years to come, and that Capitol will be helping to present it to the world.”

Universal Music Group chairman and CEO Lucian Grainge called McCartney’s signing “a homecoming of one of the greatest musical artists of all time to the label that first helped bring his incredible music to the world,” adding that “Paul’s astonishing career has shown no limits — in creativity, in commercial longevity, and in its impact on people and cultures in every corner of the globe. We are thrilled at both Capitol and UMG to be able to contribute to the next chapter.”