Rock royalty: Queen's catalogue sold to Sony for record-breaking $1.27 billion

Queen has reportedly finalized a deal with Sony Music for the acquisition of their extensive music catalogue, merchandising rights, and additional business ventures. This acquisition, valued at $1.27 billion, marks the largest of its kind in history, according to sources cited by Variety. The deal, which has been in the works for some time, excludes revenue from live performances. It's a sure sign that Queen's huge impact remains, even in the era of Taylor Swift.

This transaction surpasses previous significant deals in the music industry, including Bruce Springsteen's $500 million sale of his back catalogue to Sony in 2021, and Bob Dylan's complete catalogue acquisition by Sony in 2022. Sony also acquired a 50% interest in Michael Jackson's music catalogue for approximately $600 million. Another bidder reportedly offered $900 million for Queen’s catalogue but fell short of securing the deal.

Complicating the logistics of the deal is the fact that Disney currently holds Queen’s recording rights in the US and Canada, a deal established in the 1990s. Additionally, Universal Music Group is the worldwide distributor for Queen and will continue in this role until their contract expires in the coming years. Queen’s remaining members — Brian May, Roger Taylor, and John Deacon — along with the estate of the late Freddie Mercury, are equal shareholders in Queen Productions Ltd.

The company reported revenues of $52 million in 2022. Queen, formed in 1970, rose to fame with hits like "Bohemian Rhapsody,""We Will Rock You," and "Another One Bites the Dust."

Their innovative style and Freddie Mercury's powerful vocals cemented their place in rock history, with their first album “Sheer Heart Attack" providing what seems like their title song, "Killer Queen." They are one of the best-selling music artists of all time. One would hope this monumental deal with Sony Music secures the legacy of Queen's music for future generations and highlights the enduring value and influence of their work in the music industry. The band is still active with Adam Lambert on lead vocals.