According to the website, Sony has been negotiating for a few months to acquire rights to Queen’s musical catalogue, merchandising and other business opportunities.
One of the greatest rock bands of all time, queen (formed by Roger Taylor, Freddie Mercury, Brian May It is John Deacon) would have reached an agreement with the Sony Music for the sale of the music catalogue, merchandising and other business opportunities. According to information from Varietythe acquisition has been in the works for some time.
As the site reported, the only factor outside of the sale is the live performances. The deal was closed for US$1.27 billion, approximately R$6.8 billion at the current dollar exchange rate. It’s worth remembering how Sony bought other artists’ catalogs, like Bruce Springsteen ($500 million), Bob Dylan (around US$400 million) and Michael Jackson ($600 million).
Not only Sonybut another company, whose name was not revealed, entered the dispute to acquire the catalog queen, but the value stopped at US$900 million, around R$4.8 billion. Until now, Sony did not comment on the matter.
However, the sale of the catalog queen is not 100% defined, because the Disney owns the recording rights of the legendary band in USA and in Canada since the 1990s. Universal Music Group acts as the band’s worldwide distributor and will continue in this role in the coming years, until the existing contract expires.
According to company records, the surviving members of the group, Brian May, Roger Taylor It is John Deaconand the estate of the deceased Freddie Mercury are all equal shareholders of the Queen Productions Ltd. and reported revenues of US$52 million, approximately R$280.6 million, in 2022.
Source: Rollingstone
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.
