Queen catalog to be acquired by Sony Music for more than €1 billion

Queen catalog to be acquired by Sony Music for more than €1 billion

Up until now, it was only speculation. Sony Music was reportedly in talks to acquire the catalogue of legendary rock band Queen, including hits like 'Bohemian Rhapsody', 'We Will Rock You', 'We Are The Champions' and 'Another One Bites The Dust'.

There have now been further reports that appear to confirm that the Queen music catalogue, along with a number of other rights, is officially in the process of being acquired by Sony Music for around $1.27 billion (€1.18 billion).

Per a report from Variety, who cite Hits, the only revenue not covered in the deal is for live performances, which founding members Brian May and Roger Taylor, who still actively tour with singer Adam Lambert, will retain.

Regardless, this makes it the biggest acquisition of its kind ever, as Queen’s music catalog is one of the most valuable in rock. The band tallies 52 million monthly listeners on Spotify, making the catalogue incredibly coveted – especially since there has been a huge appetite in recent years for the acquisition of music catalogues.

These investments are extremely attractive because the songs can be used in films or ads, and therefore producing royalties for the rights owners.

Back in 2021, Bruce Springsteen sold his back catalogue to Sony for an estimated $500 million (€465 million). Sony had already acquired all of Bob Dylan’s back catalogue in 2022 for €220 million, as well as a 50 per cent interest in Michael Jackson's music catalogue for roughly $600 million (approx. €558 million).

Variety states that the logistics of Queen’s deal remain complicated, seeing as Disney currently owns the band’s recording rights in the US and Canada per a deal that was struck sometime in the ’90s. Universal Music Group are also serving as the band’s worldwide distributor, and will continue to do so for several years until that existing contract expires.