Queen's catalog will soon change hands, and it will be an expensive acquisition. Because Sony acquires the rights to the band's music… and spends $100,000 to lock it up.
The massive deal, worth about $1.27 billion, includes Queen's royalties on recorded music rights in the U.S. and Canada and a distribution deal outside the U.S. and Canada, according to Variety.
Sony Music is purchasing the rights that used to belong to Disney, and Queen's distribution deal, currently managed by Universal, is set to expire in a few years, at which point Sony will take the reins.
This transaction does not include any live performance revenue… Founding Members Brian May and roger taylor Hold on to your piece of the pie. They are still touring together. Adam Lambert.
Sony Music beat out a mystery bidder who reportedly wouldn't offer more than $900 million.
Queen's music catalog is extremely valuable. The band has had numerous hits including “Another One Bites the Dust,” “Bohemian Rhapsody,” “Somebody to Love,” “We Are The Champions,” and “We Will Rock You.” .. To name a few things.
The deal has reportedly been in the works for several years, and negotiations with Sony were finalized this year to finally close the deal.
The Queen contract is more than double what Sony Music paid. bruce springsteen's music catalog… They paid around $500 million for Bruce's songs in 2021.
Micheal Jackson's estate sold his music for $600 million, and Queen also doubled MJ's price. It speaks to the band's continued popularity even after many years. People love them.
Mom, I just gave money to a man.