Sony Music reportedly secured the recording and publishing rights to Queen’s extensive catalog for an astounding $1.27 billion, Variety confirmed Wednesday.
Sony Music is on the brink of securing Queen’s extensive music catalog for an estimated $1.27 billion, as confirmed by two sources to Variety. This deal encompasses not only the music rights but also other significant assets, excluding the revenue from live performances which remain with the band’s founding members, Brian May and Roger Taylor. (Click HERE to sign up for the Daily Caller’s latest newsletter, Mr. Right’s weekly)
Queen’s repertoire, which includes timeless hits like “Bohemian Rhapsody,” “We Will Rock You,” and “We Are the Champions,” continues to resonate globally, ensuring the catalog’s high value. The band’s appeal was further magnified by the success of the 2018 biopic “Bohemian Rhapsody,” which has renewed interest in their music and broadened its influence, Variety reported.
Queen Catalog to Be Acquired by Sony Music for £1 Billion https://t.co/X5Qpn0v3Hv
— Variety (@Variety) June 19, 2024
Despite the extensive negotiations and interest from other major players, with one bidding as high as $900 million, Sony emerged as the frontrunner. The catalog’s complexity is augmented by existing agreements, such as the recorded music rights for the U.S. and Canada, which are owned by Disney through a deal that will last in perpetuity, Variety stated. (RELATED: Science-Denying Record Label Refuses To Accept That Fat-Bottomed Girls Make The Rockin’ World Go ‘Round)
Sony’s acquisition strategy remains discreet, as the company typically refrains from public comments on such high-profile transactions. This approach was similarly observed in their previous acquisitions of Bruce Springsteen’s and Bob Dylan’s music catalogs, the outlet reported.
Queen perform on stage at Ahoy, Rotterdam, Netherlands, 29th January 1979. L-R Freddie Mercury, John Deacon, Brian May. (Photo by Rob Verhorst/Redferns)
The agreement includes revenue from Queen’s existing Disney deal. Disney, which has held the North American recording rights since 1990, will now pay royalties to Sony under the new arrangement. The income from Universal Music Group’s licensing deal for the rest of the world will also transition to Sony when it expires in 2026 or 2027, making Sony the global distributor and owner of all Queen content, Hits reported.
