Queen Sell Music Back Catalog for Record $1 Billion: Reports

Queen’s music may finally have a home.

Sony Music is reportedly buying the legendary band’s music catalog for a cool £1 billion, which equates to $1.27 billion, according to HITS Daily Double.

Sony Music Publishing will reportedly oversee the monetary, royalty and contractual portions of the deal, which is said to be long-term. However, the composition of this deal is complicated by each founding member’s own contributions, as each of them wrote at least one number one single.

The deal comes months after Sony paid $600 million for a 50% stake in Michael Jackson’s catalog, already a big payout for the company.

PEOPLE reached out to Sony Music Publishing for comment and did not immediately hear back.

Queen 1976 Keystone/Getty Brian May reveals why he ‘never liked’ Queen and David Bowie’s collaboration ‘Under Pressure’

Diversity reports that the other party interested in the music deal “stuck at $900 million,” though it’s not known which company was in the running.

According to Boardsecondary revenue streams for this business would include money from the 2018 Freddie Mercury biopic. Czech rhapsody.

If a jukebox musical were made with the Queen catalog, the contract would include that, according to Diversity.

The Queen in 1981. Kent Gavin/Mirrorpix/Getty

This deal may also include some revenue from the North American master catalog of recordings, which Disney has owned since 1990 with a $10 million deal, according to HITS.

Meanwhile, Universal Music Group’s revenue from the British rock band’s licensing deal will go to Sony when it expires in 2027.

The only money that won’t be part of the big deal is the income from the live shows. Surviving Queen members Brian May and Roger Taylor perform and tour with singer Adam Lambert.

Freddie Mercury.

Queen was formed in 1970 and included the late Freddie Mercury and retired band member John Deacon, 72, along with May, 76, and Taylor, 74.

Deacon, May and Taylor are already collecting eight-figure payouts from Queen Productions Ltd, according to The Times UK. Meanwhile, the holding company earned £73 million a year Czech rhapsody came out.

Queen’s catalog includes hits like “Bohemian Rhapsody,” “Another One Bites the Dust,” “Somebody to Love,” “We Will Rock You” and “We Are the Champions.”

Categories: Trends
Source: HIS Education