Pink Floyd sells music rights to Sony for $400 million
Pink Floyd
The iconic British rock band Pink Floyd has agreed to sell their recorded music and rights to Sony Music for nearly $400 million.
The deal came through after years of negotiation and legal tussles between band members, notably chief songwriters Roger Waters and David Gilmour, drummer Nick Mason and the estates of keyboardist Richard Wright and singer-songwriter Roger “Syd” Barrett.
What does the deal comprise of?
The deal comprises recorded-music rights but not songwriting, which is held by the individual writers, as well as name-and-likeness, which includes merchandise, theatrical and similar rights.
Most of Pink Floyd’s artwork which was largely designed by the British firm Hipgnosis, is included in the deal.
There is no official word on the deal by any of the band members or Sony, the report was published by the Financial Times. The report claims that they have details of the last iteration of the sale.
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Some of the most famous Pink Floyd albums include “Dark Side of the Moon”, “The Wall”, “Wish You Were Here”, “Animals”, “Meddle”, “Piper at the Gates of Dawn”, and “More”.
Meanwhile, Sony has spent more than a billion dollars on catalogues from Bruce Springsteen, Bob Dylan and Queen’s non-North American rights in the past few years.
