Pink Floyd is transferring ownership of their musical catalog to Sony.
Pink Floyd's music and brand have become legendary in contemporary music history, but internal strife among its members has been a constant issue for years. Nonetheless, it seems they've managed to iron out their differences and are making a substantial income from their work once more.
Reports suggest that Pink Floyd has sold their music catalog and trademark to Sony for about 400 million dollars (roughly 363 million euros). The Financial Times states that although they're selling the brand and recordings, they're keeping the rights to their songwriting. There've been disagreements among band members about the sale details recently.
Variety reported in 2022 that Pink Floyd was considering selling their music recordings and other assets for up to 500 million dollars (around 453 million euros). However, sources told them that some potential buyers had been put off by comments from Roger Waters. As a co-founder, Waters made headlines with controversial statements about Israel, Ukraine, and Russia.
Regardless, it appears the deal has gone ahead. Pink Floyd, which was established in 1965, has one of the most valuable music catalogs in contemporary music, according to Variety. Famous albums like "The Wall", "The Dark Side of the Moon", "Wish You Were Here", and "Animals" are part of their discography.
In recent times, several notable bands and artists, including Bruce Springsteen, Bob Dylan, and the Red Hot Chili Peppers, have also sold their music catalogs to various record labels. According to Variety, Sony might be in negotiations to acquire the catalog of the British rock band Queen as well. Insiders estimate that over one billion euros could be involved in the transaction for the catalog of the renowned group, which includes global hits like "We Are The Champions" and "We Will Rock You".
The sale of Pink Floyd's music catalog and trademark to Sony has significantly increased their income, making entertainment a profitable venture once more. The legendary band's decision to sell their recordings, despite internal disagreements, has positioned their music as a highly sought-after asset in contemporary music history.
