From Wikipedia:

In the run-up to releasing So Happy It Hurts, Bryan Adams spoke about how he decided to re-record his older material after his now-former record label, Universal Music Group, refused to return his original masters.

In an interview with Cleveland.com, he said: “I was in the process of renegotiating with Universal (Music Group) and they wouldn’t give anything back. I said, ‘OK, if you don’t want to give them back, I’ll make new ones.’ It was incredible fun. I’m gonna call the album Classic, maybe Part 1 ‘cause there’ll be a Part 2 I’ll finish up this year.

Adams, who performed “Summer of 69” live with Taylor Swift in 2018, credited her with the idea of re-recording his previous work. “I loved singing with Taylor, in fact I believe it’s the best version of the song since the original recording. She and I have been in a similar situation lately with our master recordings... so I’ve done what she has done to re-record my early songs again. I’m releasing a few in March, so thanks Taylor,” Adams told Stereogum.

In a conversation with Daily Telegraph, Adams said he should have done this a long time back: “I feel like a complete numpty for taking so long, I wish I’d done it 10 years ago. But it doesn’t matter. It’s all right. It’s basically something for my kids.”