Queen Music Catalog Could Sell for over $1 Billion
Written by Logan Phillips on May 31, 2023
According to several insiders in the music industry, the rights to Queen‘s catalog are expected to be sold for approximately $1.1 billion.
British rock legends Queen is said to be in the early stages of selling their extensive catalog, as reported by Music Business Worldwide. If the deal goes through, it would be the largest single-artist catalog sale in history, surpassing Bruce Springsteen’s $500 million sale of his masters and publishing catalogs in 2021. If the sale is successful, the proceeds would be divided equally between the estate of Freddie Mercury and the surviving band members, Brian May, Roger Taylor, and John Deacon.
Various major music companies and private equity groups have been competing to acquire the catalog. However, there is a potential complication due to Disney Music Group currently owning the band’s catalog in North America through its distribution deal with Universal Music Group.
The immense commercial success of Queen’s discography is undeniable, consisting of 15 studio albums, 10 live albums, and two soundtrack albums. The band has sold a staggering 300 million records worldwide and achieved nine Top 20 hits on the Billboard Hot 100, including two chart-toppers, “Another One Bites the Dust” and “Crazy Little Thing Called Love.”
Following the release of the biopic Bohemian Rhapsody in 2018, which grossed over $910 million globally against a budget of around $50 million, Queen experienced a significant surge in streaming and physical sales. Queen Productions Ltd., the band’s owned corporation, reported record-breaking revenues of £72.77 million (approximately $89.84 million) in 2019 and £39.19 million (approximately $48.38 million) in 2021, with royalties accounting for most of the earnings.