In a landmark deal, Sony Music is set to acquire the iconic music catalog of Queen for a staggering $1.27 billion. This colossal transaction underscores the enduring popularity and immense value of the band’s extensive repertoire, which includes timeless hits like “Bohemian Rhapsody,” “We Will Rock You,” and “Another One Bites the Dust.” The purchase involves Queen’s royalties for recorded music rights in the U.S. and Canada and includes a future distribution agreement outside these regions, currently managed by Universal, which will transition to Sony once the existing contract expires.
This acquisition marks a significant shift in the ownership of Queen’s music rights. Previously, these rights were under Disney’s umbrella, and the transition to Sony represents a strategic move by the latter to bolster its already robust portfolio of legendary artists. Notably, the deal excludes revenue from live performances, which will remain with the band’s founding members, Brian May and Roger Taylor, who continue to tour with Adam Lambert. This distinction ensures that the band retains control over a crucial aspect of their earnings, even as their recorded legacy changes hands.
Sony’s acquisition of Queen’s catalog is not just a major financial commitment but also a competitive triumph. The company outbid a mysterious competitor who reportedly offered no more than $900 million, highlighting the high stakes involved in securing such a valuable asset. The successful acquisition by Sony is a testament to the company’s aggressive expansion strategy in the music industry, positioning itself as a dominant force in the market.
The value of this deal is put into perspective when compared to previous high-profile music catalog sales. For instance, Sony’s purchase of Bruce Springsteen’s music rights in 2021 was valued at about $500 million, and Michael Jackson’s estate sold his catalog for $600 million. Queen’s catalog, doubling the value of these other legendary artists, speaks volumes about their lasting appeal and the lucrative potential of their music in today’s entertainment landscape.
Negotiations for Queen’s catalog have been ongoing for several years, with significant momentum building up this year, leading to the finalized deal. The transaction reflects the band’s incredible legacy and the timeless nature of their music, which continues to resonate with audiences across generations. Sony’s investment is a clear indicator of the enduring power and profitability of Queen’s music, cementing their status as one of the most influential bands in rock history.
