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Pink Floyd is the latest band to sell their music catalog for big bucks. The British band sold its entire recorded music catalog, name and likeness rights to Sony Music for $400 million. Two years ago, the band almost sold it for $500 million but reportedly the companies were put off by some controversial comments that founding member Roger Waters made at the time. While they had been in talks with several different companies, it seems Sony now won the deal.
Purchasing the band’s likeness means that Sony can now make television shows or movies about the band and sell merchandise. The deal, however, does not include the band’s songwriting rights but does include recorded material/master copy. Sony has now spent over $1 billion on music catalogs and owns music from Bob Dylan, Michael Jackson, Bruce Springsteen and others.
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Weeks before the deal was finalized, band member David Gilmour shared his reasons for agreeing to sell the catalog. He shared, “My reason for wanting to do it is I don’t want to burden my kids with that whole legacy.” While the deal took a while because the bandmates were fighting over things as well, he added, “And I also have had enough of the burdens of looking after that f****** legacy for the last nearly 40 years with the s*** and the arguments that go on. And I just want to be shorn of it.” This will hopefully put an end to the longtime feud between Gilmour and bandmate Roger Waters. Drummer Nick Mason and the late bandmates Syd Barret and Richard Wright’s estates were also compensated with the deal.
(L to R) David Gilmour, Roger Waters, Nick Mason and Rick Wright from the band Pink Floyd on stage at “Live 8 London” in Hyde Park on July 2, 2005 and was the first time they reunited since Rogers left. MJ Kim/Getty Images
Pink Floyd was founded in London and helped forge the U.K. psychedelic scene before releasing influential 1970s albums such as The Dark Side of the Moon, Wish You Were Here and The Wall.
Waters, an original member, quit in 1985, and the remaining members of Pink Floyd last recorded together in 1994 for the album The Division Bell. Gilmour just released a solo album and will be going on tour while Waters recently wrapped up the Us & Them Tour and continues to rant about world politics.
What do you think of all of these music catalog sales?
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