Sony in Talks for Largest Sale of Music Catalog, Together with Queen Productions Ltd – Document Breaking Billions on the Desk

In response to the company, Sony is working with one other investor on a transaction that will be the most important sale of its form and would come with merchandising and different enterprise alternatives. Discussions with the members of the group are persevering with, however it’s not but sure whether or not they may attain an settlement.

Brian Could, Roger Taylor, John Deacon and Freddie Mercury’s property are equal shareholders in Queen Productions Ltd, which reported gross sales of $52 million within the fiscal 12 months from September 2021 to September 2022.

Gross sales of music albums, ie units of songs by well-known artists, have grown considerably in recent times. Nevertheless, the billions of {dollars} provided is a document.

Investments of round billions of {dollars} have additionally attracted specialist funding funds and personal fairness companies resembling KKR and Blackstone, who’re competing for them with conventional music corporations, the Guardian reported.

Track units by well-known artists are thought of a beautiful funding as a result of their hits can be utilized for many years in motion pictures, performed on the radio or in commercials for big royalties to copyright homeowners.

Already in 2021, Sony has purchased again Bruce Springsteen’s album for about $500 million (11.5 billion crowns).

Different stars, resembling Neil Younger or Bob Dylan, signed contracts to promote the rights to their songs for a whole bunch of tens of millions of {dollars}. Final 12 months, Warner Music purchased a set of David Bowie’s songs for about 250 million {dollars} (5.75 billion crowns).

This 12 months, Sony additionally obtained a fifty p.c stake in Michael Jackson’s music catalog from the late singer’s property for a minimum of $600 million (13.8 billion crowns).