In a monumental move, Sony Music is set to acquire the rights to Queen’s iconic music catalog for an astonishing $1.27 billion. This hefty investment underscores the enduring value of Queen’s legendary discography.
The deal encompasses Queen’s recorded music rights in the United States and Canada, as well as a global distribution agreement, excluding the U.S. and Canada, according to Variety. This transition of rights from Disney to Sony marks a significant shift in the music industry.
Currently, Universal manages Queen’s distribution deal, which is slated to expire in a few years. Once it does, Sony will assume control. However, the agreement does not extend to revenue from live performances, which remains with founding members Brian May and Roger Taylor, who continue to tour with Adam Lambert.
Sony secured the deal by outbidding a mystery competitor, who reportedly capped their offer at $900 million.
Queen’s catalog, featuring timeless hits such as “Another One Bites the Dust,” “Bohemian Rhapsody,” “Somebody to Love,” “We Are The Champions,” and “We Will Rock You,” is a valuable asset that has been the subject of extensive negotiations for years. These discussions gained momentum this year, culminating in this landmark transaction.
This acquisition highlights Sony Music’s commitment to preserving and expanding the legacy of one of rock’s greatest bands.
