If it comes to fruition, this would be the largest trade deal of its kind
Summary
Sony is negotiating a deal that could amount to $1 billion to purchase Queen’s music catalog. The band’s success is still enormous, with over 52 million monthly listeners of their music on Spotify.
Sony is negotiating the purchase of the band’s music catalogue Queen for 1 billion dollars – the equivalent of almost R$5.3 billion. The attempted deal was reported in late May by the Bloomberg business news agency.
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Negotiations are still ongoing, but if the agreement materializes, It will be the largest of its kind ever undertaken.
Sony itself has previously purchased other music catalogs – which guarantees a return on all the songs and the band’s intellectual property -, such as that of Justin Timberlake, for 100 million dollars (almost R$ 528 million) and that of Bruce Springsteen for 500 million dollars (almost R$2.6 billion).
Even with the death of Freedie Mercury, Queen’s iconic lead singer, in 1991, the band never stopped being successful. There are 52 million monthly listeners on Spotify. Bohemian Rhapsody It is the most played song, listened to more than 2.4 billion times.
It also gave its title to the Mercury biopic. The 2018 film won the most Oscars the following year, including The best movie.
Source: Terra
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
