Sony Music to acquire Queen catalogue for £1 billion
Queen band
Sony Music is making its move and has announced that it will acquire the bulk of Queen's music catalogue along with several other rights. This will cost them a total of £1 billion (around $1.27 billion), according to a Variety report.
The only revenue not covered in this deal is for live performances, which founding members Brian May and Roger Taylor, will retain. They actively tour with singer Adam Lambert.
Queen's music catalogue is a treasure trove for rock music lovers
Notably, Queen’s music catalogue is considered among the most valuable from the rock era with classics like “Bohemian Rhapsody,” “Another One Bites the Dust,” “Radio Ga Ga,” “39,” “Somebody to Love” and “You’re My Best Friend”. Other songs that are a favourite with the audiences are “We Will Rock You” and “We Are the Champions.”
Sony will however not have the transition smooth since some rights remain with Disney which acquired the music group’s recorded-music rights for the US and Canada. Disney acquired these at some point in the 2000s after an initial $10 million licensing deal that was struck in 1991. Those rights will remain with Disney in perpetuity.
Also, the group’s distribution deal, which is currently with Universal, will go to Sony in all territories outside the US and Canada when it expires in 2026 or 2027.
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The origins of the iconic Queen's band
Queen’s original members May and Taylor came together to form a new group after they previously jammed together in a group called Smile. They were joined by Freddie Mercury on vocals and piano and, the following year, John Deacon on bass. The group soon became one of the biggest in the world, with each member penning a No. 1 single over the following decade: Along with Mercury’s “Bohemian Rhapsody,” there was May’s “We Will Rock You” in 1977, Deacon’s “Another One Bites the Dust” in 1980 and Taylor’s “Radio Ga Ga” in 1984.
The band continues to rule the roost as its songs continue to dominate charts and enjoy extensive airplay on the radio and at sporting events.
