LOS ANGELES, CA - MARCH 08: Prince performs onstage at The Hollywood Palladium on March 8, 2014 in Los Angeles, California.
Kevin Mazur/WireImage

It's time to party like it's 1999 all over again. Prince is back with a new label deal that will give us new material as well as a 30th anniversary deluxe edition of his classic 1984 album Purple Rain

While there's no set timetable or concrete information about Prince's new recordings, a press release hints that it could come sometime this year. 

"A brand-new studio album is on the way and both Warner Bros Records and Eye are quite pleased with the results of the negotiations and look forward to a fruitful working relationship," Prince said in a statement. This marks his return to the label after an infamous split back in 1996, in which he started releasing music under just a symbol as a "screw you" to Warner Bros. They've now put their bad vibes behind them; Prince has now regained ownership to his catalog.

The move comes as Prince has been popping up in random spots lately, as well as releasing tracks online here and there. Most recently, he appeared in the Fox sitcom New Girl and sang a duet with Zooey Deschanel on his latest single "FALLINLOVE2NITE." Stream it below: