A groundbreaking deal involving the sale of Queen’s complete music collection is estimated to be worth more than $1 billion.
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Amid a lengthy period of negotiations, Sony has acquired all rights to Queen’s music catalog, completing a historic deal that sets a new industry standard with a staggering deal worth $1,000. 27 billion USD.
You are watching: Queen’s legendary catalog fetches more than $1 billion in landmark deal for Sony
Sony began the negotiating process in February and after weeks of discussions, a deal was successfully reached when an unknown party recently made a bid of up to $900 million.
Variety reported that the deal includes Queen’s income from North American recorded music rights and distribution agreements.
Live performance profits were excluded in the deal, allowing original members Brian May and Roger Taylor, to maintain that revenue stream while touring with Adam Lambert under the band name.
As of now, Universal Music Group is overseeing Queen’s distribution deal, which is expected to switch to Sony when it expires in a few years.
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Despite this change, Disney will continue to hold the rights to recorded music indefinitely. However, after the deal closes, some of the team members’ remaining royalties will go to Sony.
When the deal with Universal Music Group expires in the coming years, Queen’s distribution rights will transfer to Sony for all regions worldwide except the United States and Canada.
Queen’s extensive music collection includes timeless classics that have made their mark on history.
Queen’s music catalog, along with several other rights, is being acquired by Sony Music for £1 billion (about $1.27 billion). https://t.co/X5Qpn0v3Hv
– Diversity (@Variety) June 19, 2024
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The deal to buy back Queen’s catalog has recently surpassed even some of the biggest music deals. For example, back in 2021, according to The New York Times, Bruce Springsteen’s music catalog was acquired by Sony Music for $500 million, less than half the price Queen’s iconic music fetched .
According to Rolling Stone magazine, in the recent deal, Michael Jackson’s estate sold his music collection for a significant sum of $600 million, although it lags behind the lucrative 10-figure deal. guaranteed by Queen.
Many iconic rock songs have stood the test of time in Queen’s extensive music collection.
Some of their most famous hits include “Bohemian Rhapsody”, “Another One Bites the Dust”, “Radio Ga Ga” and many more, all of which have won the hearts of music lovers across the world. Around the world.
READ MORE: Sony Music is considering buying Queen’s catalog for $1 billion
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Source: https://anhngunewlight.edu.vn
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