Sony Music is reportedly offering $1.27 billion for the music catalog of the legendary band Queen, which could potentially be the highest sum ever paid for an artist’s music rights. While the deal has not been officially confirmed, it is believed to include recordings, publishing rights, and merchandising. The valuation comes from Queen’s extensive catalog, which includes hits like “We Are the Champions” and revenue from the success of the 2018 biopic “Bohemian Rhapsody.”
Despite selling North American rights to Disney in 1990 for just $10 million, Queen’s remaining catalog is considered one of the most valuable in the world. The band still generates income from live performances, which goes to founding members Brian May and Roger Taylor. The purchase of music catalogs by record companies like Sony Music is seen as an investment, as music continues to generate revenue through various means.
Queen’s potential deal is part of a trend where artists sell their music rights to record companies like Sony Music for hefty sums. In recent years, Sony Music has acquired the rights to artists such as Bruce Springsteen and Bob Dylan. The acquisition of music catalogs is seen as an asset that requires management to maximize revenue, such as ensuring songs are used in films and playlists.
Rumors even suggest that Sony Music may also acquire the rights to the Queen name itself, leading to speculation about potential branding opportunities. If this happens, it could be a game-changer for both Sony Music and Queen fans alike.
