Queen Are the Champions
Sony Music is reportedly finalizing a deal to purchase the music catalog of the rock band Queen for $1.2B, according to reports yesterday. The 10-figure deal would be the most expensive yet in the accelerating race to scoop up the rights to popular music acts.
The four-man British band, founded in the late 1960s, produced an iconic body of work, from the six-minute symphonic hit "Bohemian Rhapsody" to stadium favorites "We Will Rock You" and "We Are the Champions." The deal includes recording and publishing rights as well as ownership of the band's name, image, and likeness, opening up potential for Broadway shows, films, advertisements, and more.
In recent years, many artists have opted to sell catalog rights to cash in on their current perceived value. For investors, music royalties are a stable, economically resilient income stream, and a catalog's current revenue, expected future earnings, and more are weighed when determining a valuation.
Economics by Following the Money ~ Globally & Nationally on Twitter @Conan644
