Hours after securing a new pact with Warner Bros. Records, Princereleased a brand new song called 'The Breakdown.' The orchestral funk ballad is the first piece of music to appear under his new deal with his former label after an 18-year hiatus.

Over stirring violins strings, keyboards and guitars, Prince sings about "the saddest story ever been told."

In one verse, the Purple One denounces his former partying self and opts for a sober path in life.

"I used to throw the party at New Year’s Eve / First one intoxicated, last one to leave / Waking up in places that you would never believe / Give me back the time, you can keep the memories," he sings.

According to Dr. Funkenberry, Prince first performed this song at a Minneapolis gig in early 2013 and occasionally plays it with his band 3rd Eye Girl.

'The Breakdown' does sound like it was recorded in the '90s (post-'Purple Rain') but still has a contemporary feel to it. Prince’s airy falsetto is stronger than ever and anchors the pleasant ballad.

As part of Prince’s new deal with Warner Bros., the R&B/Soul icon will regain ownership of his master recordings, something he’s been trying to reclaim for years. In addition, his classic 1984 album 'Purple Rain' will be remastered and reissued to coincide with the 30th anniversary in June. The collection will reportedly feature “long-awaited previously unheard music,” but it’s unclear of what that material would be.

You can purchase Prince's song 'The Breakdown' on iTunes right now.

Listen to Prince's Song 'The Breakdown'