Photo: Hulton ArchiveSony Music are the champions—of Queen's catalog. As Varietyreports, two sources have confirmed the company is in the process of acquiring the band's music catalog, among other rights, for £1 billion (around $1.27 billion). As Hitsreports, the only revenue excluded from the deal is live performances, which founding members Brian May and Roger Taylor, who still actively tour with Adam Lambert,will retain.
The record-breaking acquisition marks the most expensive music catalog sale in history, more than doubling the $600 million Sony paid for a 50% stake in Michael Jackson’s catalog rights this year and the $500 million Sony spent on Bruce Springsteen's back catalog in 2021. Another bidder was reportedly in the mix but topped out at $900 million.
Although Sony Music will own Queen's music catalog, as well as name, image, and likeness, the deal is a bit complicated. Right now, Disney owns the band's recorded-music rights in the US and Canada but has been paying royalties to May and Taylor. Those earning will now go to Sony. Universal also has a distribution deal with Queen through 2026 or 2027. When that contract is up, distribution rights outside the US and Canada will go to Sony.