Meta Description: Queen’s music catalogue sale to Sony for $1 billion is making headlines. Discover the details of this historic deal and its impact on the music industry.
Queen Music Catalogue Sale to Sony for $1 Billion
British rock legends Queen are reportedly in the process of selling their music catalogue to Sony for an impressive $1 billion. This deal includes a collection of other rights, marking a significant moment in the music industry.
Formation and Evolution of Queen
The iconic band was formed in London in 1970 by frontman Freddie Mercury, guitarist Brian May, and drummer Roger Taylor. The classic lineup was completed with the addition of bassist John Deacon. Initially, Queen’s sound was rooted in hard rock, with elements of prog and metal. However, global hits like ‘Bohemian Rhapsody’ and ‘We Will Rock You’ propelled them into a more mainstream direction.
Queen’s Success in the 1980s
The 1980s were particularly successful for Queen, producing hits such as ‘Another One Bites The Dust’, ‘Flash’, ‘Under Pressure’, ‘Radio Ga Ga’, and ‘I Want to Break Free’. These songs cemented Queen’s status as one of the most successful bands of all time. Their 1981 Greatest Hits album is the best-selling album in the UK, with over seven million copies sold as of July 2022.
Details of the Queen Music Catalogue Sale
The Queen music catalogue sale to Sony was first reported by Hits and confirmed by Variety. The deal includes all revenue streams except for live performances, which remaining members May and Taylor, who still tour with vocalist Adam Lambert, will retain. Another suitor reportedly bid $900 million but fell short.
Complications and Distribution Rights
Rumors of the Queen music catalogue sale have circulated for years, with serious discussions emerging in 2023. The sale is complicated by the band’s US and Canada recorded music rights, which Disney acquired in the 2000s. These rights will remain with Disney, although some member royalties will transfer to Sony upon finalization. Additionally, Queen’s current distribution deal with Universal will move to Sony outside the US and Canada when it expires in 2026 or 2027.
Trend of Music Catalogue Sales
Queen’s sale is part of a larger trend of music catalogue sales. For instance, Kiss sold their name, logo, image, likeness rights, and back catalogue to Pophouse Entertainment for around $300 million after their farewell tour in 2023.
Queen’s music catalogue sale is a landmark deal, highlighting the enduring value of their music and legacy in the ever-evolving music industry.
