NEW YORK/LONDON (CelebrityAccess) – Sony Music Entertainment is on the brink of securing a monumental acquisition: purchasing the legendary rock band Queen’s music catalog for an estimated £1 billion (approximately $1.27 billion USD). If finalized, it would mark one of history’s most significant music catalog deals. The news was first reported by Hits.
The Acquisition Details
Key Points:
Catalog Content: The acquisition includes Queen’s recording and publishing rights, covering iconic tracks like “Bohemian Rhapsody,” “Another One Bites the Dust,” and “We Will Rock You.”
Current Ownership: Disney Music Group (DMG) holds Queen’s recorded music catalog for North America, while Universal Music Group (UMG) has a global distribution agreement with DMG. Queen Productions Ltd, owned equally by band members Brian May, Roger Taylor, John Deacon, and the Freddie Mercury estate, controls the catalog outside the US and Canada.
Distribution Rights: UMG will continue distributing Queen’s music in North America and receiving associated royalties for a few more years. However, global distribution rights will transfer to Sony in 2026 or 2027, consolidating Sony’s role as the primary distributor and owner of Queen’s content worldwide.
Additional Rights: The deal includes Queen’s name and likeness rights, potentially opening new avenues for merchandising and other ventures.
Industry Impact and Competitive Bidding
Sony’s move comes amid a fiercely competitive environment, with another bidder reportedly offering $900 million for the rights. Discussions for the acquisition have been ongoing, and various major music companies and private equity groups have previously expressed interest. This acquisition surpasses Sony’s prior significant deals, such as the $500 million acquisition of Bruce Springsteen’s catalog in 2021, Bob Dylan’s catalog in 2022 and a substantial stake in Michael Jackson’s catalog earlier this year.
With this potential acquisition, Sony is set to expand its already formidable catalog and capitalize on Queen’s enduring popularity and vast commercial opportunities. Including name and likeness rights suggests future ventures in merchandising and multimedia projects, amplifying Queen’s legacy across new platforms and audiences.
Queen’s surviving members, May and Taylor, continue to tour with vocalist Adam Lambert. Under the new agreement, they will maintain control over revenue from live performances, ensuring their ongoing financial interest in the band’s future activities. Details regarding the involvement of long-time Queen manager Jim Beach and his daughter Matilda in the deal remain unclear. Their roles could be pivotal as the agreement approaches its final stages.
As the music industry witnesses another record-breaking catalog sale, the focus now shifts to the potential long-term impacts on both SQueen’s Queen’s brands. The official closing of the deal is anticipated within the next few weeks, setting a new benchmark for music catalog acquisitions and underscoring the immense value of timeless today’s today’s market.
