Sony Music issuing a statement. - A whopping one billion dollars for Queen's music catalog?
Starting from its establishment in 1970, the renowned British rock band Queen created a tremendous impact on the music industry. Famous hits like "We Will Rock You," "Another One Bites the Dust," and "Bohemian Rhapsody" rewrote history. Recently, reports suggest that their great hits could be transferred to new owners.
Sony Music in talks for Queen's music catalog
The music giant Sony Music is reportedly engaged in discussions with an unnamed investor to acquire the complete music library of the legendary band. Possibilities beyond music rights could involve lucrative marketing opportunities, like merchandising. A billion dollars could potentially be spent in this aspirational bargain, as quoted in the discussion.
Additionally, it's mentioned in the report that after the passing of Freddie Mercury in 1991, Queen Productions Ltd, co-owned by the surviving members Brian May (age: 76), Roger Taylor (74), and John Deacon (72), also Freddie Mercury's estate, contributed to a $52 million turnover in 2022.
Notably, in recent days, prominent musicians have been selling their song writing rights. Sony made a deal worth approximately $500 million for Bruce Springsteen's (age: 74) catalog, while Warner Music forked out around $250 million for David Bowie's (1947-2016) songs.
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- If the reports are accurate, the cult band Queen's music catalog could join the high-valued assets owned by Sony Music, following in the footsteps of musicians like Bruce Springsteen and David Bowe.
- Despite Freddie Mercury's untimely death in 1991, Queen Productions Ltd, in partnership with the band members and Mercury's estate, continued to generate revenue, with a significant $52 million turnover noted in 2022.
- Echoing other music legends, Queen's music catalog is reportedly up for sale, with an estimated price tag of a billion dollars, potentially creating an even wider impact on the music industry.
- The iconic ribbon-shaped logo, synonymous with Queen's "Bohemian Rhapsody," would surely continue to symbolize the band's influence, even as ownership of their music catalog shifts to Sony, just as it has for the legendary Queen of Rock 'n' Roll herself.
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