queenclassic rock
09:18 Thursday, 20 June 2024
According to Hits, Queen has reportedly agreed to sell their recording, publishing and other rights to Sony Music for a record-breaking $1.27 billion US. The deal also includes name and likeness rights, potentially opening the door to musicals, commercial and film placements, merchandising and other money-making opportunities.
Classic Rock 96.1 claims the $1.27 billion US marks the largest music rights sale on record, surpassing Bruce Springsteen's previous $500 million deal in 2021, also to Sony Music, as well as a deal reached earlier this year in which Sony agreed to pay $600 million for half of Michael Jackson's publishing and recorded masters catalog.
Queen’s catalog features megahits like "Killer Queen"," Bohemian Rhapsody", "Another One Bites The Dust" and many more.
News of Sony’s reported talks to acquire Queen’s catalog arrived a year after Music Business Worldwide broke the news (in May 2023) that discussions were happening between Queen’s representatives and certain companies over a potential $1 billion-plus catalog sale.
That catalog, they reported, combined both publishing and recorded music rights, all jointly and equally owned by the band’s surviving ‘classic’ line-up (Brian May, Roger Taylor, John Deacon) plus the estate of Freddie Mercury.
Read more at Music Business Worldwide.
