Sony Music is reportedly in talks to accumulate the information of iconic British rock singer Queen.
That is primarily based on BloombergThe newspaper revealed an article on Wednesday (Might 29), quoting sources as saying that Sony is presently “working with one other investor on an acquisition that might complete as a lot as $1 billion.”
Bloomberg It added that negotiations had been “ongoing and will not end in a deal” however potential offers would come with “merchandise gross sales and different enterprise alternatives”.
Queen’s catalog consists of such killer queen, Bohemian Rhapsody, one other one which has settled down There are much more.
It comes a 12 months after information broke that Sony was reportedly in talks to accumulate the Queen catalog world music enterprise Breaking information (Might 2023) Queen’s representatives and sure firms are in discussions about potential collaborations Over $1 trillion Catalog gross sales.
As we reported, the catalog combines publishing rights with recorded music rights, all owned by the band’s surviving “traditional” line-up (Brian Might, Roger Taylor, John Deacon), in addition to Freddie Mercury The inheritance is owned collectively and equally.
Main music firms, together with Common Music Group, in addition to personal fairness teams have been discussing a sale, sources instructed us on the time.
We famous in final 12 months’s report that any potential deal can be sophisticated by the truth that: disney music group (by way of its possession of Hollywood Data) owns the rights to Queen’s recorded music in North America; the band owns them elsewhere on the earth. (DMG has a world distribution cope with Common Music Group.)
Queen members Brian Might, Roger Taylor and John Deacon – plus the Freddie Mercury property – every personal equal shares within the firm Queen Productions Ltd.which owns the band’s discography exterior america and Canada.
The members of Queen (plus Mercury’s property) additionally maintain worldwide rights to Queen’s music publishing catalog by way of their firms queen music ltd.managed by Sony Music Publishing.
Queen Productions Ltd publishes its annual monetary report at Corporations Home. The newest launch was in June 2023, displaying the corporate’s monetary efficiency for fiscal 2022, which resulted in September of that 12 months.
In line with Queen Productions Ltd.’s newest annual report for the fiscal 12 months ending September 30, 2022, the band’s income £40.89 million (US$50.41 million Calculated primarily based on the typical annual IRS price).
That is a rise 4.3% Ranging from fiscal 12 months 2021, the turnover shall be £39.19 million (see under).
(In U.S. {dollars}, this implies $53.9 millionbecause the pound strengthened in opposition to the greenback that 12 months.
The monetary report additionally exhibits that the corporate’s pre-tax revenue was £22.16 million ($27.41 million), up Annual enhance of 31.6%from £16.84 million (US$23.17 million) in fiscal 12 months 2021.
Information exhibits Queen’s reputation elevated after 2018 bohemian rhapsody Biopics have a protracted tail.
Earlier than the excitement surrounding the corporate started, the corporate’s income in fiscal 2022 was greater than triple that in fiscal 2016 bohemian rhapsody Film. In that 12 months, the corporate’s turnover was £12.34 million (US$16.72 million at 2016 trade charges).
As we famous in our report final 12 months, if the deal closes, it will be one of many largest gross sales of a single artist’s music catalog in historical past, simply surpassing the $5 million Sony Music Group paid for Bruce Springsteen’s recorded music and recordings. Greater than 100 million US {dollars}.
(For the Springsteen publishing portion of the deal, Sony’s supply was funded partly by Eldridge Industries.)
In February, promoting billboard Sony Music Group has reportedly acquired half of Michael Jackson’s property from his property for at the least $600 million.
Sony Music additionally totally acquired Bob Dylan’s recorded music catalog in 2022.world music enterprise
