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Sony Music's recent announcement to acquire the majority of Queen's music catalogue, along with various other rights, signifies a monumental deal valued at approximately £1 billion (around $1.27 billion), according to Variety. This acquisition excludes the revenue from live performances, which will remain with founding members Brian May and Roger Taylor, who continue to tour with singer Adam Lambert. The catalogue includes timeless classics such as "Bohemian Rhapsody," "Another One Bites the Dust," "We Will Rock You," and "We Are the Champions," which remain immensely popular and influential.
However, Sony's transition to acquiring Queen's music rights isn't without challenges. Disney retains the recorded-music rights for the US and Canada, a result of a $10 million licensing deal struck in 1991 and subsequent acquisitions in the 2000s. These rights will remain with Disney indefinitely. Additionally, the group's current distribution deal with Universal will transfer to Sony in all territories outside the US and Canada upon its expiration in 2026 or 2027, ensuring a phased transition.
Queen's origins trace back to the collaboration of May and Taylor in the band Smile, later joined by Freddie Mercury and John Deacon to form Queen. Each member contributed significantly to the band's success, with chart-topping singles penned by all four. Despite Mercury's untimely death in 1991, Queen's music continues to captivate audiences worldwide, maintaining a strong presence on the radio, in sports arenas, and across various media platforms. This acquisition by Sony underscores the enduring value and legacy of Queen's music.
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