Famed musical group considered a cult. - Sony transactions a billion-dollar music contract for Queen's discography.
From its inception in 1970 up to the demise of its singer Freddie Mercury (born 1946, passed away 1991), the legendary British rock band Queen was a true chart-topping phenomenon. With hit tracks like "We Will Rock You", "Another One Bites the Dust", and "Bohemian Rhapsody", they created history in music across the globe.
A recent report by "Bloomberg" suggests that their chart-topping hits are soon to be transferred to new ownership. The music guru Sony Music is allegedly in talks with another investor regarding the acquisition of the entire music archive of the iconic band. This mega-deal may not only involve the music rights but also other marketing ventures such as merchandising.
There has even been talk of a potential price tag of up to one billion US dollars.
Queen's catalog is not the first blockbuster sale
As the magazine notes, the remaining Queen members - Brian May (76), Roger Taylor (74), John Deacon (72), and the Freddie Mercury estate - are all co-owners of Queen Productions Ltd, generating around $52 million in revenues in 2022, according to company records.
In the past few years, several renowned musicians have sold their songwriting catalogs. Sony acquired Bruce Springsteen's (74) back collection for an approximate value of $500 million in 2021, while Warner Music splashed out approximately $250 million for David Bowie's (1947-2016) music in 2022.
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- The iconic band Queen, led by the charismatic Freddie Mercury, has a music catalog that is valued at such a high amount that Sony Music is reportedly in talks with another investor for its potential acquisition.
- The recent speculation of a mega-deal worth up to a billion dollars involves not only the music rights of Queen, but also marketing ventures like merchandising, following the trend ofmusic catalog sales of other legendary artists like Bruce Springsteen and David Bowie.
- Interestingly, the remaining members of Queen - Brian May, Roger Taylor, and the Freddie Mercury estate - are also co-owners of Queen Productions Ltd, which generated around $52 million in revenues in 2022, highlighting the enduring appeal of their music.
- In 1970, this critically acclaimed 'cult band' started their journey, eventually earning them a billion-dollar music contract with Sony, cementing their status as one of the most influential acts in music history.
