A curious series of recent reports claim Disney, who owns Queen's music catalog, is considering selling it. Universal Music Group is said to offer the Mouse House one billion dollars for the music. Axios reports that the deal is dead.
But everything about these stories are fascinating to me.
First of all, I had no idea that Disney owns the rights to “Bohemian Rhapsody,” “We are the champions,” and of course “Fat Bottomed Girls”, you know they make your rocking world go round.
About a year before Freddie Mercury’s death in 1991, Queen left Capitol records for Disney's Hollywood Records. The band is still signed there to this day. As part of the deal, Disney bought the band’s catalog for $10 million.
Inflation is a powerful drug, which is one reason why Queen’s catalog may be worth a billion dollars. That valuation is the latest in a wave of sales and potential sales of music rights mostly.
The likes of Bob Dylan, Bruce Springsteen, Shakira, Bob Marley. Justin Bieber, and many others sold the rights to their catalogs for tens if not hundreds of millions of dollars.
Why?
It's a great investment and so far a win win. With all the world's music in the palm of our hands we listen to more old music than new.
While the artist get piles of money, as Rolling Stone reports 14 times what they make in a year in exchange for losing some control of their legacies and of course tax relief.
Reach me at James@rochesteraccent.com or jamesbrowntv@gmail.com. Or leave me a message at 1-585-484-0339
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