Queen Sells Catalogue for More Than $1 Billion

Photo Credit: GGD News x Queen Website

In a historic deal, Sony Music Entertainment will acquire Queen’s music catalogue and key ownership rights for an estimated $1.27 billion. This means Sony will not only control most of the global revenue generated from the legendary rock band’s music and merchandise, but also own their name and likeness. Due to an initial $10 million licensing agreement (first made in 1991), Disney still technically controls Queen’s music in the U.S. and Canada. In the early 2000s, Disney also managed to secure all of the iconic band’s North American-recorded music rights. Any remaining royalties will go to Sony Music. Similarly, distribution rights (currently controlled by Universal Music) outside of North America will switch to Sony Music in 2026 or 2027. The rock band is known for multiple anthems like “Bohemian Rhapsody,” “We are the Champions,” “Somebody to Love,” “Another One Bites the Dust,” and “We Will Rock You.” According to Forbes, the deal represents the biggest “publicly known sale” of a music catalogue.

The only artists that come close include Michael Jackson’s estate (which sold half of his music catalogue for an estimated $600 million) earlier this year and Bruce Springsteen, who sold his entire catalogue and publishing rights (also to Sony Music) for $500 million in 2021. As part of their deal with Queen, Sony Music will not control any revenue generated from the band’s live performances (original members Brian May and Roger Taylor still tour under the name with Adam Lambert). The founding band members own equal shares of Queen Productions Ltd., including Freddie Mercury’s estate; who tragically died of complications from AIDS in 1991. Considering the amount of songs that can be used for advertising, the retail value of Queen’s iconography and branding capital, Freddie Mercury’s personal items recently being sold at auction (in the millions), and the well-received, Oscar-winning biopic of the band in 2018 (which could easily translate into a touring musical or concert, similar to ABBA Voyage), many industry insiders believe that selling the catalogue for $1.27 billion was in fact, much too low. Do you agree? Get more info here.