Lou Reed, the musical genius who told the advertising fraternity he masturbates every day to stay creative, has died at 71.

The New York-based rock musician who wrote and sang Walk on the Wild Side passed away on Sunday.

The Velvet Underground singer reportedly passed due to complications of a liver transplant, which he had in May this year.

In June this year the singer-songwriter spoke at Cannes, where when he was asked how he stays creative he retorted: “I masturbate every day”.

He also rebuffed the notion that advertising “used to be better”.

On the quality of advertising he added: "There's some really creative people doing these things now, it's not like before. Some of them are really funny, some of the camera use and photography is monumentally genius.

"These guys are serious, they're not just churning something out."