Queen's entire music catalog is in the process of being sold in a distribution deal valuing at over $1 billion.
Sony is in the middle of acquiring the rights to Queen's entire music catalog after a long negotiation process and concluded with a record-shattering megadeal worth $1.27 billion.
It was previously reported that Sony joined the negotiation in February and a deal was finally and recently struck when a mystery bidder reportedly stopped at $900 million.
According to Variety, the dealinvolves Queen's royalties for recorded-music rights in the United States and Canada as well as a distribution deal.
The 10-figure deal includes everything except revenue from live performances, which founding members Brian May and Roger Taylor, now in their seventies, will retain as they continue to tour under the band name with Adam Lambert.
Currently, Queen's distribution deal is managed by Universal Music Group but will expire in a few years and pass on over to Sony.
Queen's entire music catalog is in the process of being sold in a distribution deal valuing at over $1 billion; seen in 1973
Sony is in the middle of acquiring the rights to Queen's entire music catalog, which includes Freddie Mercury-penned Bohemian Rhapsody, after a long negotiation process and concluded with a record-shattering megadeal worth $1.27 billion; seen in 1982
However, the recorded-music rights still belong to Disney and will remain theirs in perpetuity — although certain of the group member's remaining royalties from them will go to Sony once the deal officially closes.
And similarly, Queen's distribution deal will go to Sony in all territories outside of the U.S. and Canada when its contract with Universal Music Group expires in a few years.
Queen's music catalog includes some of the most iconic hits in history, so it's no surprise that the acquisition deal was more than double than some of the other biggest music deals.
Back in 2021, Sony Music paid $500 million — less than half of what Queen's sold for — to acquire Bruce Springsteen's music catalog.
Previously, Michael Jackson's music catalog was sold by his estate for $600 million — which still trails behind Queen's 10-figure deal.
Prior to Sony signing the dotted line for the rock band's catalog, it was reported that there was mystery bidder involved but they stopped short of $900 million.
Queen's music catalog includes some of the most widely-known rock classics ever including Bohemian Rhapsody, Another One Bites the Dust, Radio Ga Ga, 39, Somebody to Love, You're My Best Friend.
Their biggest hits also include stadium staples We Will Rock You and We Are the Champions.
The 10-figure deal includes everything except revenue from live performances, which founding members Brian May and Roger Taylor, now in their seventies, will retain as they continue to tour under the band name with Adam Lambert; seen in June 2023
It was previously reported that Sony joined the negotiation in February and a deal was finally and recently struck when a mystery bidder reportedly stopped at $900 million. According to Variety, the deal involves Queen's royalties for recorded-music rights in the United States and Canada as well as a distribution deal; seen in 1984
Queen's music catalog includes some of the most iconic hits in history, so it's no surprise that the acquisition deal was more than double than some of the other biggest music deals; seen in 1973
Queen was originally formed in London in 1970 by May and Taylor.
They previously played together in a group called Smile with the late legend Freddie Mercury on vocals and piano.
The year following the group's inception, John Deacon joined on bass guitar.
They later struck a record deal with EMI and it was with them that they released Queen's self-titled first album in 1973.
The group made several hits and charted in the U.K. with Seven Seas of Rhye and Killer Queen.
However, their big breakthrough emerged in 1975 when they released the iconic, Mercury-penned hit single Bohemian Rhapsody.
Following that song's symphonic success, they skyrocketed to fame and became one of the biggest, most well-known groups in the world.
Over the next decade, each member penned a No. 1 single.
Queen was originally formed in London in 1970 by May and Taylor. They previously played together in a group called Smile with the late legend Freddie Mercury on vocals and piano. The year following the group's inception, John Deacon joined on bass guitar; seen in 1981
May and Taylor will retain performance revenue rights as they have continued touring in their seventies alongside Adam Lambert
In the following decade after the group's inception and the release of Mercury-penned Bohemian Rhapsody, each member wrote a No. 1 single. Taylor, Queen's drummer, penned their 1984 smash hit Radio Ga Ga; seen in May 2023
In addition to Mercury's Bohemian Rhapsody, May wrote their 1977 hit We Will Rock You.
Deacon penned their 1980 song Another One Bites the Dust, and Taylor was the genius behind 1984's Radio Ga Ga.
They continued performing at large stadiums all over the world until Mercury contracted the AIDS virus and tragically died of complications from the disease in 1991.
Queen's legacy still lives on as their music continues to receive extensive airplay on radios and sporting events.
