Sony Music to Acquire Queen's Music Catalog for $1.27 Billion

Sony Music is in the final stages of acquiring the Queen music catalog and associated rights for £1 billion (approximately $1.27 billion), as confirmed by two sources to Variety. The only revenue not included in the deal pertains to live performances, which will remain under the control of founding members Brian May and Roger Taylor, who continue to tour with Adam Lambert. Another bidder nearly matched Sony's offer, reaching $900 million before withdrawing.

Queen's music catalog is among the most valuable in rock history, featuring timeless hits such as "Bohemian Rhapsody," "Another One Bites the Dust," "Radio Ga Ga," "Somebody to Love," "We Will Rock You," and "We Are the Champions." The 2018 biopic "Bohemian Rhapsody" highlighted the group's enduring popularity and potential for future projects, including a prospective jukebox musical.

The catalog has been under negotiation for years, with Sony emerging as the leading contender in recent months. The complexity of the deal is heightened by the U.S. and Canadian recorded-music rights, acquired by Disney in the 2000s, which will remain with Disney indefinitely. Royalties from these rights will partially transfer to Sony after the deal's completion. Additionally, Queen's distribution deal, currently held by Universal, will shift to Sony for all territories outside the U.S. and Canada once the existing contract expires in 2026 or 2027.

Representatives from Sony Music, Sony Music Publishing, Disney’s Hollywood Records, and Queen have not commented on the transaction. This silence is typical for Sony, known for not officially confirming high-profile acquisitions, such as those involving Bruce Springsteen and Bob Dylan.

Queen, formed in London in 1970 by Brian May and Roger Taylor, initially faced multiple rejections before securing a deal with EMI. Their self-titled debut album was released in 1973, featuring the hit "Keep Yourself Alive." The band's breakthrough came in 1975 with "Bohemian Rhapsody," a complex, genre-defying single written by Freddie Mercury.

Throughout the 1970s and 1980s, each member of Queen contributed to the band's success with chart-topping hits: May's "We Will Rock You," Deacon's "Another One Bites the Dust," and Taylor's "Radio Ga Ga." Despite not achieving the same level of dominance in the U.S., Queen's global popularity soared, culminating in a record-setting performance at the 1985 Rock in Rio Festival in Brazil, attended by an estimated 600,000 fans.

The tragic death of Freddie Mercury in 1991 due to AIDS-related complications marked a significant loss. Nonetheless, Queen's legacy has flourished, with their music continuing to captivate audiences worldwide. May and Taylor, now in their mid-seventies, maintain the band's presence on tour, ensuring that Queen's iconic sound lives on.

Why This Matters: The acquisition of Queen's music catalog by Sony Music underscores the enduring value and cultural impact of the band's work. This significant investment reflects the potential for ongoing revenue through various channels, including streaming, licensing, and new productions, securing Queen's legacy for future generations.

Key Takeaways

• Sony Music is acquiring Queen's music catalog for £1 billion ($1.27 billion).
• Revenue from live performances remains with Brian May and Roger Taylor.
• Queen's catalog includes globally recognized hits like "Bohemian Rhapsody" and "We Will Rock You."
• Disney retains U.S. and Canadian recorded-music rights, with some royalties going to Sony.
• Queen continues to tour, maintaining their legacy and fanbase.