Pink Floyd sell back catalogue for $400million

nme.com:

Music Business Worldwide, the legendary rock veterans’ deal with the music giant is set to include the band’s recording catalogue, neighbouring rights, and name and likeness rights.

However, the band’s publishing rights were not included in the deal.Pink Floyd’s recorded music royalties are currently managed by two companies: Pink Floyd (1987) Limited and Pink Floyd Music Limited.

The main difference between the two companies is that the latter collects revenue for music recorded before Roger Waters’ departure in 1985, and the former collects revenues for music recorded after.As reported by Music Business Worldwide, the two companies generated a combined revenue of $50million (£40.399million) during their fiscal year ended June 30 2023.The news of Pink Floyd selling their back catalogue comes after Sony acquired Queen’s catalogue for £1 billion earlier this summer.Previously speaking about the idea of selling the band’s back catalogue in an interview with Rolling Stone, the band’s former guitarist David Gilmour said that it would be a “dream”, but not because of the financial gain the sale would bring.He said he’d be most tempted to sell to “be rid of the decision-making and the arguments that are involved with keeping it going,” and added: “I am not interested in that from a financial standpoint.

I’m only interested in it from getting out of the mud bath that it has been for quite a while.”The “mud bath” he refers to is most likely referring to the tension between him and Waters which has run for a number of years now.