Pink Floyd Sells Music Catalog and Name and Likeness to Sony for $400 Million

Pink Floyd has reportedly sold its music catalog, along with its name and likeness to Sony for approximately $400 million.

The British reported the historic agreement Financial Times on Tuesday, October 1.

Sources close to the matter told the paper that ownership of the band’s image means the buyer would profit from merchandise sales, as well as other entities that could come, such as television spin-offs and films.

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Pink Floyd in August 1968. Michael Ochs Archives/Getty

The legendary English progressive rock band consisted of the founding members Nick MasonRoger Waters, and the late Syd Barrett and Richard Wright, as well as David Gilmour, who joined them in 1967.

The deal with Pink Floyd came with stipulations, adds The Financial Times. Only their recording rights are included, not any of the band’s songwriting rights.

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Prior to this week’s deal with Sony, the band had been trying to sell their catalog for at least two years, reportedly in talks with major labels such as Warner Music, BMG and Hipgnosis.

Pink Floyd, May 1972.

Gijsbert Hanekroot/Redferns

Diversity he called the roughly $400 million sale “one of the biggest in years.”

Earlier this year, Sony bought Michael Jackson’s catalog worth about 600 million dollars.

Rod Stewart is reportedly selling the rights to his catalog of songs for nearly $100 million

In January 2022, Sony Music Entertainment (SME) announced the purchase of 11-time Grammy winner Bob Dylan’s entire back catalog of recorded music for an undisclosed amount, along with the rights to new music released in the future.

At the time, it was reported that the deal was worth more than $150 million.

Pink Floyd, August 1971.

Koh Hasebe/Shinko Music/Getty

Other big deals in recent years involving other companies include Justin Bieber selling his 291-song catalog to Hipgnosis Songs Capital for a reported $200 million in January 2023, and Katy Perry selling the rights to her songs and albums released between 2008 and 2018. and in 2020 to Litmus Music — for a reported $225 million.

Since their inception, Pink Floyd, known for hits like “Money” and “Another Brick in the Wall,” have achieved many impressive feats—including their 1973 studio album The dark side of the moon production Billboard history.

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In April, the album returned to The Billboard 200. As reported Forbes at that time the album spent 989 weeks on the chart.

The group’s other hit albums include Wall, Wish You Were Here, Atom Heart of the Mother and Animals. Their latest album, endless river, was released in 2014 and starred Gilmour, Wright and Mason.

PEOPLE reached out to representatives for Pink Floyd and Sony, but did not immediately hear back.

Categories: Trends
Source: HIS Education