Sony Buys Queen Music Catalog for $1.27 Billion

Breitbart ^ | June 20, 2024 | Simon Kent

[Macho MAGA Man]

Sony Music has reportedly bought the music catalog of English rock band Queen, including hits like Bohemian Rhapsody, Radio Ga Ga, and Another One Bites The Dust, for around $1.27 billion.

The news was first reported by Hits; according to the outlet, the only revenue outside the deal is for live performances, which founding members Brian May and Roger Taylor, who still actively tour with singer Adam Lambert, will retain.

Another interested player was said to be very close in the bidding, but stopped short at $900 million, with music rights seen as an attractive investment because songs continue to generate money for decades.

The $1 billion price tag means it is the biggest deal of its kind, surpassing the $500 million Sony paid to acquire Bruce Springsteen’s catalogue in late 2021.

Earlier this year, Sony also acquired a 50 percent interest in Michael Jackson’s music from the late singer’s estate – at a cost of at least $600 million, the BBC notes.

Queen are more popular than either of those artists, with 52 million monthly listeners on Spotify – compared to 41 million for Jackson and 20 million for Springsteen.

[Joe 6-pack]

At least Springsteen will have a point of reference when he writes his songs about the poor, downtrodden, and dispossessed, now that he’s one of them.

[gibsonguy]

It’s already ubiquitous. I like some of the catalog well enough but enough. I would find it entertaining if Weight Watchers used “fat bottomed Girls”.

[packrat35]

Queen bowed down to the wokesters and took Fat Bottomed Girls off their greatest hits album recently.

https://ew.com/music/queen-fat-bottomed-girls-yoto-greatest-hits/