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Queen's Music Catalog Being Sold For More Than 1 Billion USD? Here's What Report Says
Queen’s music catalog is finally getting a home and fame after being reportedly bought by Sony. Read ahead to know more about it.
Hollywood’s one of the most unique boy bands that gave back-to-back hit tracks like Bohemian Rhapsody, Somebody to Love, Radio Ga Ga, and more, is none other than Queen, led by Freddie Mercury and his teammates. Now, the band’s catalog is getting bought by Sony Music for a huge sum, as reported by Variety.
Queen ruled over millions of hearts during their era ever since they formed back in 1970. However, with time, the rock band started to face different ups and downs but never missed a chance to make the audience groove to their worldwide popular tracks like We Are the Champions or We Will Rock You. And, after the biopic movie on Freddie Mercury as Bohemian Rhapsody, the potential of its craze was felt again.
Sony Music buying Queen catalog
As per the reports of HITS Daily, Sony Music is acquiring the catalog of Queen music for a whopping £1 billion, which is almost $1.27 billion. After that, two other sources of Variety have verified the news. This deal will supervise copyrights, monetary, and contractual parts of it. However, it comes with its complexities as it won’t include the revenue of the live performances as the co-founding members of the band, Brian May and Roger Taylor, still perform with Adam Lambert.
The reports of this deal come right after Sony Music bought a 50% stake in Michael Jackson’s catalog for $600 million. They paid a hefty amount there as well. However, according to Variety, there was another party who wanted to take part in buying the catalog. But they fall short after bidding it at $900 million.
Sony’s deals from Queen’s catalog
There’s a chance for Sony to take over if there’s an opening of the jukebox musical in London and Broadway, along with tours. Not only this, but the deal might also include the revenue that comes from North America’s master recordings catalog. According to HITS, Disney has owned that catalog since the 1990s with a $10 million deal.
After the expiration of Universal Music Group's licensing deal in 2027, the income will also go to Sony Music.
What is Queen?
Queen is a British rock band originally formed by Brian May and Roger Taylor in London in 1970, who used to play together in another band called Smile before that. Soon after, Freddie Mercury joined the band for vocals and piano while in the following year, John Deacon was added to the team on bass.
Soon, the band took over the world with their back-to-back and acquired no. 1 position. But what got them the spot was the song Bohemian Rhapsody, and Queen got their worldwide breakthrough in 1975.
Well, even though Sony Music hasn’t commented anything on acquiring the deal for Queen’s music catalog, what are your thoughts about it?
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