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Sony Buys Queen Music Catalog for $1.27 Billion
Breitbart ^ | June 20, 2024 | Simon Kent

Posted on 06/20/2024 11:35:34 AM PDT by 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.

(Excerpt) Read more at breitbart.com ...


TOPICS: History; Miscellaneous; Music/Entertainment; Society
KEYWORDS: brianmay; flashgordon; freddiemercury; johndeacon; queen; rogertaylor
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Amazing!
1 posted on 06/20/2024 11:35:34 AM PDT by Macho MAGA Man
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To: Macho MAGA Man

Absurd!


2 posted on 06/20/2024 11:37:04 AM PDT by rktman (Destroy America from within? Check! WTH? Enlisted USN 1967 to end up with this💩? 🚫💉! 🇮🇱👍!)
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To: Macho MAGA Man

Wow im still paying off my Colombian house records deal


3 posted on 06/20/2024 11:38:58 AM PDT by al baby (I know sarcasm )
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To: rktman

I have to agree R Man. Way too much, l fail to see how Sony recoups that much.


4 posted on 06/20/2024 11:43:52 AM PDT by gibsonguy
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To: Macho MAGA Man
According to its most recent financial statements as seen by the BBC, Queen Productions Ltd made $52 million in the year ending September 2022. The proceeds are shared equally between guitarist Brian May, drummer Roger Taylor, bass player John Deacon and the estate of late singer Freddie Mercury.

For the buyers, Its a lot like buying a TIPS bond - the royalties will pay out over the life of copyright protection, and can be periodically negotiated higher for inflation, new sources of revenue on the music found, and "re-mastering" done for new releases.

For the band, the surviving band members are in their mid-late 70s. I imagine its time for estate-planning, gifting, or setting up trusts while they are still alive.

5 posted on 06/20/2024 11:44:03 AM PDT by PGR88
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To: Macho MAGA Man

Yikes!
Loved the music, but 1.2 BILLION?

Although, all the rest of us physicists are glad that one of us is a billionaire...

You might call Brian an astrobillionaire...


6 posted on 06/20/2024 11:45:20 AM PDT by SuperLuminal ( Where is Samuel Adams when we so desperately need him)
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To: Macho MAGA Man

Why?


7 posted on 06/20/2024 11:47:46 AM PDT by TexasM1A (GLASS HAMAS)
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To: Macho MAGA Man

https://youtu.be/VMnjF1O4eH0?si=2IdA9oIgYcdWb0oe


8 posted on 06/20/2024 11:49:06 AM PDT by Delta 21 (If anyone is treasonous, it is those who call me such.)
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To: TexasM1A

It’s only around 20x current earnings. That’s not too much.
Much better deal than half that for Springsteens crap.


9 posted on 06/20/2024 11:52:53 AM PDT by 1Old Pro
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To: SuperLuminal
I have a cultural question: isn't Sony a Japanese company? Have the Sony admins ever seen any "fat-bottomed girls"?

Of course, that song is a bit pedo perverted.

Hey, I was just a skinny lad
Never knew no good from bad
But I knew life before I left my nursery (huh)
Left alone with big fat Fanny
She was such a naughty nanny
Heap big woman, you made a bad boy out of me

10 posted on 06/20/2024 11:56:49 AM PDT by Tell It Right (Galatians 6:14 -- May I never boast except in the cross of our Lord Jesus Christ...)
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To: Macho MAGA Man
Re: "$1.27 billion"

The prices paid for music catalogs are insane.

Since 1928, the return on the S&P 500 has averaged almost 10% per year.

How do you average $127 million in royalties EVERY year for Queen music?

On top of that, it is a business with fixed costs - probably several million per year.

Crazy.

If it is some billionaire who loves Queen, fine, its like a buying a painting you love.

But, $1.27 billion for a popular music business?

No thank you.

11 posted on 06/20/2024 11:58:23 AM PDT by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
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To: Macho MAGA Man

“Queen are more popular than either of those artists…”

Inappropriate grammar.

“It is.” “They are.”


12 posted on 06/20/2024 12:03:24 PM PDT by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: zeestephen

On top of that, it is a business with fixed costs - probably several million per year.

Firstly, the fixed costs would be minimal. Need a lawyer, accountant and a couple of bookkeepers. But the department that manages these catalogs also mange others so the costs are spread among all of the catalogs.

As to another comment, SONY Records is essentially an American company, but the Japanese owners are culturally progressive folks who understand that the most important thing is that these catalogs make money, lots of it.


13 posted on 06/20/2024 12:06:24 PM PDT by Steven Scharf
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To: rktman

Most of their songs are YUCK!


14 posted on 06/20/2024 12:07:53 PM PDT by Bullish (...And just like that, I was dropped from the ping-list)
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To: gibsonguy

You will see Queen themed commercials for EVERYTHING now.


15 posted on 06/20/2024 12:13:29 PM PDT by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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To: Macho MAGA Man
She keeps Moet et Chandon in a pretty cabinet
Let them eat cake she says, just like Marie Antoinette...

Never thought those words would be worth over a billion back when I was in grade school.
16 posted on 06/20/2024 12:14:09 PM PDT by AnotherUnixGeek
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To: ConservativeMind

British usage.


17 posted on 06/20/2024 12:20:28 PM PDT by HartleyMBaldwin
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To: Steven Scharf
Re: "Fixed costs would be minimal"

I disagree.

No dedicated advertising?

No dedicated creative marketing talent?

No defense against international piracy?

I will stick with several million per year.

18 posted on 06/20/2024 12:24:42 PM PDT by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
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To: Macho MAGA Man

Queen songs are probably gonna disappear off from Youtube.


19 posted on 06/20/2024 12:49:32 PM PDT by Revel
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To: Macho MAGA Man

Compared to Springsteen’s blubbering, they should have got 100X this much.


20 posted on 06/20/2024 1:23:54 PM PDT by bigbob
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