Queen has reportedly sold their recording, publishing and all other rights to Sony Music for $1.27 billion.
The deal also includes the band’s name and likeness rights as well as the possibility of musicals, commercial and film placements, merchandise and other opportunities, HITS Daily Double reported. However, live performances are not included in the deal, according to Variety.
Original members Brian May and Roger Taylor have performed with singer Adam Lambert, while bassist John Deacon retired following frontman Freddie Mercury’s death in 1991.
Queen + Adam Lambert bring the “Rhapsody Tour” to the Wells Fargo Center in Philadelphia, PA on Wednesday, October 18, 2023.Al Mannarino | For NJ Advance Me
The deal comes six years after “Bohemian Rhapsody,” an autobiographical film chronicling the life and career of the band, which earned over $900 million globally at the box office, and won four Academy Awards including a Best Actor accolade for Rami Malek who portrayed the late Mercury.
Disney and Universal Music Group will permanently keep the rights to distribute Queen’s records in North America, but the band’s royalties will now go to Sony Music. For global distribution, the rights will transfer from UMG to Sony Music in 2026 or 2027.
The $1.27 billion price tag is the largest music rights sale on record — more than Bruce Springsteen who also previously sold his rights to Sony Music for $500 million in 2021. Sony Music also reached a deal to buy half of Michael Jackson’s publicist and recorded masters catalog for $600 million.
Rumors about whether Queen would sell their catalog began forming last year with Universal Music one of the interested buyers.
READ MORE: Legendary rock band sells their songs, name and logo for $300 million
Earlier this year, KISS sold the rights to their entire music catalog including publishing and master recordings, name, logo, image and likeness to Swedish company Pophouse Entertainment for $300 million.
The pattern follows a series of bands and musicians selling their rights for money. Along with Springsteen, artists like Bob Dylan, Stevie Nicks, Blondie, Journey and more have sold their rights to major music companies.
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Saleah Blancaflor may be reached at sblancaflor@njadvancemedia.com. Follow her on Twitter at @saleyley and Instagram.
