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POLITIKOFF

Queen's music catalog could sell for over $1 billion

Politiko 2023-05-29 14:12:34

Queen's music catalog could sell for over $1 billion

Queen's songs are popular around the world, and the group's work can soon sell for a staggering amount. A source familiar with the music acquisition tells CNN that discussions are "well underway" for Universal Music Group to buy Queen's catalog from Disney Music Group. The source added that:

"The sale could exceed $1 billion and the deal is expected to close within a month."

CNN has reached out to Universal Music Group and Disney Music Group for comment, as well as a representative for the group. Bruce Springsteen previously made headlines in December 2021 with the sale of his song catalog totaling $500 million.

"That amount remains arguably the highest amount ever sold for a music catalog, but if Queen's sale goes through, it will set a new record."

The billion-dollar total for Queen's music is undoubtedly so high thanks in part to the 2018 Oscar-winning film "Bohemian Rhapsody," which told the story of the band's beginnings with a focus on late frontman Freddie Mercury, inspiring a resurgence in popularity. of the band's music. Justin Bieber, David Bowie's estate and Sting have all recently completed sales of their respective music catalogs.

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