Queen’s Catalog To Be Sold For $1.1Billion?
via Freddie Mercury Solo/YouTube
Recently, there have been discussions and speculations within the music industry about a possible change in the ownership of Queen‘s catalog. Several well-informed individuals in the music industry suggest that the ownership of Queen’s catalog could soon change, with a potential price tag of approximately $1.1 billion.
British Rock Legends to Make History with Catalog Sale
According to a report from Music Business Worldwide, the legendary British rock icons are said to be in the initial phases of selling their extensive collection of songs. If the agreement is finalized, it would be the largest sale of a catalog by a single artist ever recorded, surpassing Bruce Springsteen’s $500 million sale of his masters and publishing catalogs in 2021.
In the event that the deal is successful, the proceeds will be divided equally among Freddie Mercury’s estate and the remaining band members, Brian May, Roger Taylor, and John Deacon.
Music Giants Compete for Queen
Multiple prominent music corporations, including Universal Music Group, are actively competing for the opportunity to acquire the band, as are private equity firms. One possible obstacle arises from the fact that the Disney Music Group, which currently possesses the band’s catalog in North America and maintains a worldwide distribution agreement with Universal Music Group.
There’s no doubt that Queen’s music has been incredibly successful. They have released 15 albums of original songs, 10 albums of live performances, and two albums for movies. In total, they have sold 300 million records all around the world. They have also had nine songs make it into the top 20 of the Billboard Hot 100 chart, including two that reached number one: “Another One Bites the Dust” and “Crazy Little Thing Called Love.”
Queen Productions’ Record-Breaking Earnings
After the release of the biographical film Bohemian Rhapsody in 2018, the band experienced a significant increase in both streaming and physical music sales. The movie was a commercial success, earning over $910 million globally, despite having a production budget of around $50 million.
As a result, Queen Productions Ltd., the band’s owned corporation, achieved remarkable financial success. In 2019, they recorded a record-breaking revenue of £72.77 million (approximately $89.84 million), and in 2021, they earned £39.19 million (approximately $48.38 million), with the majority of these earnings derived from royalties.