Queen have reportedly agreed a deal to sell their music catalogue to Sony Music for more than $1 billion.
According to reports, Sony are currently working on acquiring the legendary band’s back catalogue, merchandising, and other business opportunities.
It has also been suggested that the only source of Queen’s revenue which will not form part of this deal, will be live performances. The deal is worth a reported $1.27 billion (£1 billion).
Talks over the sale between the two parties have been ongoing for a long time, the biggest deal of its kind.
Complicated Deal
The details behind this deal between Queen and Sony Music remain complicated.
The band’s recording rights in the US and Canada are owned by Disney, with Universal Music Group also serving as Queen’s global distributor.
They will remain in that role for the next few years, until their current contract with the band expires.
According to company filings for Queen Productions Ltd, revenues of $52 million (£41m) were recorded in the year up to September 2022.
All surviving band members Brian May, Roger Taylor and John Deacon are all equal shareholders of the band’s company, along with the Estate of the late Freddie Mercury.
Queen are renowned for a string of major hits, including including Another One Bites The Dust, Crazy Little Thing Called Love, We Will Rock You, and Radio Ga Ga.
Queen are the latest band to sell their catalogue to Sony Music, who also acquired the back catalogues of Bob Dylan and Bruce Springsteen in recent years.
