(Credits: Queen Productions)
British rockers Queen are reportedly in the process of selling their music catalogue for $1 billion to Sony, alongside a collection of other rights.
The band was formed in London in 1970 by frontman Freddie Mercury, guitarist Brian May, and drummer Roger Taylor. The classic lineup was later finalised when bassist John Deacon entered the fold. At first, the group occupied a hard rock-oriented realm, with flecks of prog and metal in their sound, but after global hits such as ‘Bohemian Rhapsody’ and ‘We Will Rock You’ in the middle and later stages of the decade, they started to move in a more mainstream-friendly direction.
The 1980s would also be fruitful for the group, spawning the likes of ‘Another One Bites The Dust’, ‘Flash’, ‘Under Pressure’, ‘Radio Ga Ga’ and ‘I Want to Break Free’, which confirmed the group as one of the most successful of all time, and kept them relevant, despite listener tastes and the world changing since they first broke out. Demonstrating their tremendous success, their 1981 Greatest Hits album is the best-selling album in the UK, and as of July 2022, it has sold over seven million copies.
The Queen Sony sale was first reported by the music industry trade publication Hits, and now two sources have confirmed it with Variety. Both outlets report that the only revenue not included in the deal is that from live performances, which remaining members May and Taylor, who are still active with vocalist Adam Lambert, will keep. It is claimed that another suitor was in the running, but their bid fell short at $900million.
Rumours about the Queen sale have abounded for a number of years now, with the news about a potential deal with Sony first emerging in 2023. It has also been reported that the group’s US and Canada recorded music rights – which Disney required for an undisclosed fee in the 2000s after initially securing a $10 million licensing deal in 1991 – has complicated the Sony sale.
The rights will remain with the mass media conglomerate forever. However, it is claimed that some of the members’ leftover royalties from them will go to Sony when the deal is finalised. Furthermore, the group’s present distribution deal with Universal will move to Sony outside the US and Canada when it expires in either 2026 or 2027.
Queen are not the only prominent artist to get in on the recent surge in musical catalogue sales. After completing their farewell tour in 2023, New Yorker’s Kiss sold their name, logo, image, likeness rights and back catalogue to the Pophouse Entertainment group for around $300m.
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