Queen’s catalog is about to change hands, and it’ll be an expensive acquisition — ’cause Sony’s acquiring the rights to the band’s music … spending 10 figures to lock it down.
The massive transaction — valued at about $1.27 billion — involves Queens’ royalties for recorded music rights in the United States and Canada, plus a distribution deal outside the U.S. and Canada … according to Variety.
Sony Music is buying the rights that used to belong to Disney, while Queen’s distribution deal is currently managed by Universal and is going to expire in a couple years, at which point Sony will take the reins.
The deal does NOT include revenue from live performances … founding members Brian May and Roger Taylor are holding on to that slice of the pie. They still tour with Adam Lambert.
Sony Music beat out a mystery bidder, who reportedly would not offer more than $900 million.
Queen’s music catalog is super valuable … the band has tons of hits, including “Another One Bites the Dust,” “Bohemian Rhapsody,” “Somebody to Love,” “We Are The Champions” and “We Will Rock You” … just to name a few.
This transaction is several years in the making … and negotiations with Sony reportedly picked up this year, with the company finally sealing the deal.
The Queen deal is more than double what Sony Music paid for Bruce Springsteen‘s music catalog … they shelled out about $500 million back in 2021 for Bruce’s tunes.
Michael Jackson‘s estate sold his music for $600 million … and Queen doubled MJ up here too. It just speaks to the band’s lasting popularity all these years later … folks love ’em.
Mama, just paid a man.