Neil Diamond sells entire song catalogue, master recordings to Universal Music Group

American singer-songwriter Neil Diamond, whose decades-long career has spawned hits like 'Sweet Caroline', has sold his song catalogue to Universal Music Publishing Group.

According to Deadline, the financial terms of the deal were not disclosed, but a flurry of recent catalogue deals have reached hundreds of millions of dollars.

The rise of streaming has set off a scramble to lock down music rights, sending valuations surging.

In addition to a number of well-known Diamond songs, including 'Song Sung Blue', 'Cracklin' Rosie' and 'Holy, Holy', the deal encompasses 110 unreleased tracks, an unreleased album and archival long-form videos.

Diamond, who is 82-year-old, has had more than 70 songs on the Billboard charts, selling more than 130 million albums.

Universal already had controlled publishing rights for Diamond's catalogue since 2014. The deal calls for the company to record and release any future music if Diamond decides to return to the studio.

"After nearly a decade in business with UMG. I am thankful for the trust and respect that we have built together and I feel confident in the knowledge that Lucian, Jody, Bruce, Michelle and the global team at UMG, will continue to represent my catalogue, and future releases with the same passion and integrity that have always fueled my career," Diamond said in a press release.

Diamond's songs have been woven into pop culture with increasing frequency as his career has unfolded. A cover of 'Girl You'll Be a Woman Soon' factored prominently in Quentin Tarantino's Pulp Fiction, and the director included him again on the soundtrack to 'Once Upon a Time in Hollywood'.

As per Deadline, the 'Neil Diamond Musical: A Beautiful Noise' will begin a limited engagement in Boston this summer before heading to Broadway.

( With inputs from ANI )