Hello, It's Me: Could Adele's New Album Be A Catalyst For Sony's Stock?
After a six-year break from releasing new music, Adele is set to return with the 2021 release of "30." The new album will likely be a huge catalyst for the entire music industry.
What Happened: Adele announced on Instagram that “30” will be released Nov. 19, her fourth studio album.
“When I was writing it, it was my friend who came over with a bottle of wine and a takeaway to cheer me up,” Adele writes of the new album.
The highly anticipated album comes after six years away from music and after Adele got married, divorced and raised her son Angelo away from the public eye.
The album follows the highly successful “21” and “25” released in 2011 and 2015, respectively.
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Why It’s Important: Sony Corp (NYSE: SONY) signed a record-breaking deal with Adele in 2016 for 90 million pounds. The deal marked the largest record deal ever and came at the potential height of Adele’s career.
A two-hour television special called “Adele One Night Only” will air on CBS, a unit of ViacomCBS Inc (NASDAQ: VIAC), five days before the album releases. The interview marks Adele’s first about her new album and is hosted by Oprah Winfrey.
Adele will discuss the “stories behind the songs, life after divorce, weight loss and raising her son,” according to the announcement.” The special will also be available live and on-demand for ViacomCBS’s streaming platform Paramount+.
Adele’s 2011 album “21” sold over 31 million copies worldwide and “25” sold over 19 million copies. In the U.S., Adele’s album had the largest single sales week since record-keeping started in 1991.
The last two Adele albums rank first and third in sales worldwide in the 21st century.
Adele has typically shied away from the spotlight, but Sony is planning a blitz with television, magazines and interviews to boost awareness and demand for the new Adele album.
SONY Price Action: Sony shares closed Tuesday at $112.49.
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