Sir Elton will bank as much as $13 million thanks to the upcoming live-action remake of Disney's The Lion King.
The New York Daily News reports that the luminary has agreed to a deal to rework his smash hit compositions from the 1994 animated musical film.
His hits Circle Of Life and Can You Feel The Love Tonight will be modified in the new version of the film that’s set for release in 2019.
Jon Favreau, who directed 2016’s The Jungle Book, is set to helm and the movie will feature the voices of Beyoncé as Nala, Donald Glover as Simba, Chiwetel Ejiofor as Scar, Seth Rogen as Pumbaa and Keegan-Michael Key as Kamari.
Although Disney Studios has secured Elton for the project, there won't be an official announcement for several more weeks.
Insiders say that the licensing deal is worth at least $4 million, but will rise in commission from DVD sales and streaming. Earnings from new album sales and royalties on radio worldwide will boost his bank balance too.
And on top of that, ticket sales from The Lion King stage productions worldwide will likely soar after the 2019 film release.
A source said: “Elton is working with Disney on this new ‘Lion King’ project. They have reached an agreement to present some reworked versions of the classic hits and perhaps some new work.
“The songs will be thread into the storyline. It is unthinkable when you have Beyoncé involved not to have her sing some of those iconic hits — and that means huge sales to a new generation. The deal is a huge one and will earn him millions at many stages. Obviously he will get a one off licensing deal followed by a cut in royalties from all aspects of the work.”