https://sputnikglobe.com/20230528/rights-to-queens-music-catalogue-set-to-be-sold-for-11bln-media-reports-1110758319.html
Rights to Queen's Music Catalogue Set to Be Sold For $1.1Bln, Media Reports
Rights to Queen's Music Catalogue Set to Be Sold For $1.1Bln, Media Reports
Sputnik International
The British rock band is reportedly in the early stages of selling their extensive catalog, which would mark the largest single-artist catalog sale in history.
2023-05-28T23:38+0000
2023-05-28T23:38+0000
2023-05-30T14:35+0000
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Queen's iconic music catalog is up for sale, and it is expected to fetch a staggering $1.1 billion, according to insiders in the music industry. Various major music companies and private equity groups, including Universal Music Group, are competing for the acquisition. However, a potential hurdle arises from the fact that Disney Music Group currently holds the rights to Queen's catalog in North America through a global distribution deal with Universal Music Group.Queen's discography, consisting of 15 studio albums, 10 live albums, and two soundtrack albums, has achieved tremendous commercial success. The band has sold 300 million records worldwide and has secured nine Top 20 hits on the Billboard Hot 100, including two number-one singles, "Another One Bites the Dust" and "Crazy Little Thing Called Love."The billion-dollar valuation of Queen's music can be attributed, in part, to the success of the 2018 Oscar-winning film "Bohemian Rhapsody," which revitalized the popularity of the band's music. The film grossed over $910 million globally, significantly surpassing its budget of approximately $50 million. Queen Productions Ltd., the band's owned corporation, recorded record-high revenues of £72.77 million (around $89.84 million) in 2019 and £39.19 million (approximately $48.38 million) in 2021, with the majority of earnings coming from royalties.Previously, Bruce Springsteen made headlines in 2021 when he sold his song catalog for around $500 million, which remains the highest amount ever paid for a music catalog. However, if the Queen sale goes through, a new record will be set, solidifying their status as one of the most influential and valuable music catalogs in history.The proceeds from the potential deal would be divided equally between the estate of Freddie Mercury and the surviving band members, Brian May, Roger Taylor, and John Deacon.
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queen, rock music, queen music songs, freddie mercury, brian may, roger taylor, john deacon, queen's music catalogue, who owns queen music
queen, rock music, queen music songs, freddie mercury, brian may, roger taylor, john deacon, queen's music catalogue, who owns queen music
Rights to Queen's Music Catalogue Set to Be Sold For $1.1Bln, Media Reports
23:38 GMT 28.05.2023 (Updated: 14:35 GMT 30.05.2023) The British rock band is reportedly in the early stages of selling their extensive catalog, which would mark the largest single-artist catalog sale in history.
Queen's iconic music catalog is up for sale, and it is expected to fetch a staggering $1.1 billion, according to insiders in the music industry.
Various major music companies and private equity groups, including Universal Music Group, are competing for the acquisition. However, a potential hurdle arises from the fact that Disney Music Group currently holds the rights to Queen's catalog in North America through a global distribution deal with Universal Music Group.
Queen's discography, consisting of 15 studio albums, 10 live albums, and two soundtrack albums, has achieved tremendous commercial success. The band has sold 300 million records worldwide and has secured nine Top 20 hits on the Billboard Hot 100, including two number-one singles, "Another One Bites the Dust" and "Crazy Little Thing Called Love."
The billion-dollar valuation of Queen's music can be attributed, in part, to the success of the 2018 Oscar-winning film "Bohemian Rhapsody," which revitalized the popularity of the band's music. The film grossed over $910 million globally, significantly surpassing its budget of approximately $50 million. Queen Productions Ltd., the band's owned corporation, recorded record-high revenues of £72.77 million (around $89.84 million) in 2019 and £39.19 million (approximately $48.38 million) in 2021, with the majority of earnings coming from royalties.
Previously, Bruce Springsteen made headlines in 2021 when he sold his song catalog for around $500 million, which remains the highest amount ever paid for a music catalog. However, if the Queen sale goes through, a new record will be set, solidifying their status as one of the most influential and valuable music catalogs in history.
The proceeds from the potential deal would be divided equally between the estate of Freddie Mercury and the surviving band members, Brian May, Roger Taylor, and John Deacon.
