Sony Music Group About to finish the most important artist catalog deal in music historical past.
The corporate has reportedly agreed to accumulate the legendary rock band’s catalog Queen The landmark deal is reportedly value approx. £1bn ($1.27 billion at present trade charges).
sony It’s understood they are going to purchase the band’s international music publishing rights, their “identify and likeness rights”, and pursuits of their recorded music – together with their recording rights outdoors North America, the place their masters personal disney music group.
(Sony has managed Queen’s publishing rights and the band’s recorded music is at the moment accessible via universal music group.)
On the finish of Might, Bloomberg report That Sony is negotiating a cope with Queen, whereas the key music firm “Partnering with one other investor” About transactions.
Involved traders are more and more vocal, based on MBW sources Apollo World Administration.
It is unclear what number of of them Queen catalog price ticket exceeds $1 billion Apollo’s involvement and whether or not its involvement within the cope with Sony is predicated on a debt settlement, an fairness settlement or a mix of the 2.
Sony has partnered with exterior capital Earlier Catalog Investments.
the corporate’s Roughly US$550 million Acquisition of Bruce Springsteen’s catalog of revealed and recorded music 2021 (Publishing) Partially funded by: Eldridge Industries. On a smaller scale, 2022 Sony co-invests area capital Get hold of publishing directories of authors from widespread nations Ashley Gorley.
Apollo’s Sony is taken with getting concerned after the funding large just lately backed Sony’s Queen catalog deal harmony Within the latter firm’s bid to accumulate belongings Hipgnosis Song Fund (HSF).
harmony Formally withdrew from the HSF bidding struggle in Might, leaving international funding large Blackstone behind as a front runner In HSF’s takeover battle.
Earlier than this end result happens, Apollo Debt and minority fairness had been dedicated to a bidding entity (Harmony Refrain Ltd) which supplied US$1.51 billion Acquisition of HSF.
On the identical time, in Might, sony musicsister firm, Sony PhotosIn response to experiences, working with Apollo in a Potential $26 billion bid Paramount. (Presently, it seems possible Paramount would ultimately merge with Skydance.
Apollo World Administration It has additionally been lively in different points of the music rights market in recent times.
2022, Apollo Global Management Led what was stated to be the “largest ever” ABS (asset-backed securities) deal concordwhen the latter agency costs US$1.8 billion The bond subject is backed by greater than 1 million music rights.
On the identical time, in 2021, Former CEO of Tempo Music Sherry Clark Suarez settings Hong Kong View Fairness Companions With assist from Apollo. HarborView has collected approx. $1.6 billion In “Regulatory Managed Property”.
As of March 31, 2024, Apollo By itself – throughout a number of industries – there are approx. $671 billion belongings beneath administration.
Queen’s musical catalog, together with publishing and recording rights, is owned collectively and equally by the band’s surviving “traditional” lineup (Brian Might, Roger Taylor, John Deacon) and the property of Freddie Mercury Land owned.
disney music group (via its possession of Hollywood Data) owns the rights to Queen’s recorded music in North America; the band owns them elsewhere on this planet. (DMG has a worldwide distribution cope with Common Music Group.)
The variety of clicks report Final month, it was introduced that Common Music Group, which serves as Disney’s distributor, will retain distribution rights in North America, though Sony will obtain royalties.
UMG’s international distribution rights will switch to Sony in 2026 or 2027, making Sony Music the only international distributor and proprietor of all Queen content material.
Queen members Brian Might, Roger Taylor and John Deacon – plus the Freddie Mercury property – every personal equal shares within the firm Queen Productions Ltd.owns the group’s catalog of recordings Outdoors the US and Canada.
The members of Queen (plus Mercury’s property) additionally maintain worldwide rights to Queen’s music publishing catalog via their firms queen music ltd.managed by Sony Music Publishing.
Queen Productions Ltd publishes its annual monetary report at Firms Home. Latest, Published last weekdisplaying the corporate’s monetary efficiency for fiscal 2023 (as of the tip of September final yr).
The corporate reported GBP £39.47 million Income for the fiscal yr ending September 30, 2023. $49.1 million.
This implies income is down barely year-on-year 3.5% from £40.89 million ($50.41 million) That The company reported In response to the monetary report, fiscal yr 2022 Report Filed with Firms Home.
of £39.47 million Of the income in fiscal yr 2023, royalties accounted for £36.1 milliondown Annual enhance of two.0% Starting in fiscal yr 2022.international music enterprise
