- 💰 Sony Music is in talks to buy Queen's back catalogue of songs in a deal worth $1bn (£790m).
- 🎵 The deal includes Queen's best-selling hits like Bohemian Rhapsody, Don't Stop Me Now, and We Will Rock You.
- 🤝 Sony Music is also considering securing Queen's merchandising rights.
- 💼 Queen band members and the estate of former frontman Freddie Mercury are equal shareholders in Queen Productions.
- 📈 The potential agreement with Sony Music would be one of the biggest deals of its kind.
- 🎶 Queen would join other superstars in selling their song rights, such as Bob Dylan, Shakira, Justin Bieber, and Katy Perry.
- 💿 Sony Music has previously acquired music back catalogues, including Bob Dylan's master recordings and half of Michael Jackson's catalogue.
- 🔍 The music industry has seen pressure on such deals due to rising interest rates, affecting the cost of deal-making.
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Sony Music, one of the entertainment giants, is currently in negotiations to pay a whopping $1 billion for the rights to Queen’s iconic songbook. This deal would cover hits like “Bohemian Rhapsody,” “Don’t Stop Me Now,” and “We Will Rock You.” Notably, Sony is teaming up with another unnamed investor to make this staggering offer, which also includes merchandising opportunities. The company’s previous acquisition of half of Michael Jackson’s music catalog earlier this year demonstrates its interest in valuable music assets.
Queen, with Adam Lambert now fronting the band, remains an enduring act. The original bandmates—Brian May, Roger Taylor, John Deacon, and Freddie Mercury’s estate—are equal shareholders in Queen Productions Ltd., which generated $52 million in revenue in 2022. Their catalog boasts hits like “Under Pressure” and “Another One Bites the Dust.”
The soaring value of music catalogs in recent years is partly due to paid streaming services like Spotify and historically low interest rates. However, not all music deals have been successful. For instance, Pink Floyd’s catalog, including hits like “Comfortably Numb” and “Money,” failed to attract bids despite an asking price of at least $500 million. Companies specializing in music rights, like Hipgnosis, have also faced challenges in recouping their investments.
In summary, Sony’s potential acquisition of Queen’s music catalog is a significant move in the music industry, reflecting the enduring appeal of legendary bands and their timeless hits.
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