Queen sell music catalogue to Sony Music for over $1billion
nme.comQueen have reportedly reached a deal with Sony Music for the acquisition of their music catalogue and more, which has been in the works for some time now.Per a report from Variety, sources with information on the deal have confirmed that Sony is now in the process of acquiring Queen’s back catalogue, along with merchandising and other business opportunities.
Per Variety, the only aspect of the band’s revenue not included in the deal will be from live performances.Variety‘s sources claim the deal has been closed for USD$1.27billion (£1billion), making it the biggest acquisition of its kind ever.
Back in 2021, Bruce Springsteen sold his back catalogue to Sony for an estimated $500 million (£393 million). In 2022, Sony acquired all of Bob Dylan’s back catalogue in deal.
Sony had also acquired a 50 per cent interest in Michael Jackson‘s music catalogue for roughly $600 million (£471 million).Variety also reports that another bidder was close to securing Queen’s catalogue, but had stopped short at $900million.
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