1. Sony Music is in the process of acquiring the Queen music catalog and other rights for £1 billion ($1.27 billion), with live performance revenue being the only aspect not covered in the deal.
2. Another player was close in the bidding process but stopped short at $900 million.
3. Queen’s music catalog is valuable, with hits like “Bohemian Rhapsody” and “Another One Bites the Dust,” and a potential for a jukebox musical that could open in London or on Broadway.
The Queen music catalog, which includes iconic songs such as “Bohemian Rhapsody” and “We Will Rock You,” is in the process of being acquired by Sony Music for £1 billion (around $1.27 billion), according to Variety. This news comes after reports that the catalog was being pursued by other potential buyers, one of whom stopped short at $900 million. Queen’s music catalog is considered one of the most valuable of the rock era, with globally popular and lucrative songs.
The acquisition of Queen’s music catalog by Sony Music is a significant development in the music industry. Queen, originally formed in London in 1970, became one of the biggest bands in the world, with each member contributing to their success with hit singles. The group’s catalog includes timeless classics like “Bohemian Rhapsody,” “Another One Bites the Dust,” and “We Will Rock You.” These songs have become stadium anthems and remain globally popular and highly profitable.
The value of Queen’s music catalog has been further emphasized by the success of the 2018 biopic “Bohemian Rhapsody.” The film demonstrated the potential for leveraging the group’s name and likeness rights, paving the way for a potential jukebox musical that could open in London or on Broadway and then tour indefinitely.
While the deal between Sony Music and Queen’s catalog is still in progress, it is worth noting that the only revenue not covered in the acquisition is for live performances. Founding members Brian May and Roger Taylor, who still actively tour with singer Adam Lambert, will retain the rights to their live performances.
The acquisition of the Queen music catalog by Sony Music also raises questions about the future distribution and ownership of their recorded music rights. Currently, Disney holds the recorded-music rights for the U.S. and Canada, having acquired them for an undisclosed price in the 2000s. These rights will remain with Disney, but certain royalties from the band members will go to Sony once the deal closes. Additionally, Queen’s distribution deal with Universal, currently in place outside the U.S. and Canada, will transfer to Sony when it expires in 2026 or 2027.
Overall, the acquisition of Queen’s music catalog by Sony Music signifies the enduring legacy and commercial value of the band’s songs. The catalog represents an important part of the rock era, with its impact felt globally. This deal not only brings significant financial benefits to Sony Music but also solidifies Queen’s position as one of the most influential and profitable bands in music history.
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