Universal Music Group Set To Acquire Queen’s Catalog For Over $1 Billion
Universal Music Group, one of the leading music companies in the world, is currently engaged in advanced negotiations to acquire the iconic rock band Queen‘s catalog for a staggering sum of over $1 billion. This potential sale has caught the attention of the industry, hinting at the immense value and popularity of the legendary British group’s music. The acquisition, if completed, would mark one of the largest single-artist music catalog sales in history. While details of the deal remain undisclosed, insiders anticipate that the record label’s purchase of the catalog will be finalized within the coming months.
The Rising Value of Queen’s Catalog
Over the past few years, Queen’s music has continued to generate substantial revenue, capturing the interest of major players in the industry. Discussions surrounding the sale of their catalog, which encompasses both music publishing and recorded music rights, have attracted the attention of renowned music companies, including Universal Music Group and private equity firms. The potential sale price is expected to exceed $1 billion, with estimates ranging from $1.1 billion to even higher figures. Such a valuation would surpass the record-breaking $500 million Sony Music Group paid for Bruce Springsteen’s music catalogs in late 2021.
The Complexities of the Sale
The sale of Queen’s catalog is further complicated by the existing ownership structure. In North America, Disney Music Group (DMG) owns the recorded music catalog, while Queen Productions Ltd, co-owned by Queen band members Brian May, Roger Taylor, and John Deacon, along with the Freddie Mercury estate, holds the recording catalog rights outside the US and Canada. The band members and the estate own the global rights to Queen’s music publishing catalog through Queen Music Ltd, which is administered by Sony Music Publishing.
Queen’s Financial Performance
Queen Productions Ltd, the company that manages the band’s recording catalog, reported impressive annual revenues of GBP £39.19 million in FY 2021, primarily generated through royalties. Notably, in FY 2019, following the release of the Oscar-nominated biopic, Bohemian Rhapsody, the company achieved a record-high annual revenue of GBP £72.77 million. On platforms like Spotify, Queen continues to maintain a strong presence, ranking as the 48th most popular artist globally with an impressive 47.7 million monthly listeners.
The Potential Impact
If UMG successfully acquires Queen’s catalog, it would mark a monumental achievement within the music industry. This deal wouldn’t merely affirm the band’s unrivaled position as one of the most impactful and prosperous acts in history, but also reaffirm the timeless worth of their music. By obtaining this invaluable collection, Universal Music Group would gain access to a treasure trove of iconic songs, empowering the company to maximize the potential of Queen’s catalog across diverse platforms and capitalize on the unwavering global appeal of their music.
The reported acquisition of Queen’s catalog by Universal Music Group for over $1 billion underscores the enduring power of Queen’s music and its ability to generate substantial revenue. The potential sale highlights the immense value placed on iconic artists and their catalogs in today’s music industry.
With negotiations well underway, it remains to be seen how the deal will be finalized and what impact it will have on the future distribution and accessibility of Queen’s beloved music. Fans of the band can anticipate that their favorite songs will continue to resonate for generations to come, backed by the support of Universal Music Group‘s vast resources and expertise.
Immerse yourself in the world of music by following MusicPromoToday. Stay in the loop with the newest developments in the industry and head to the MPT Agency Blog for an array of captivating news and updates.
Subscribe To Our Music Marketing Newsletter!
News about music marketing strategies to the music business and beyond.
Delivered to your inbox once a week.
