October 3, 2023

Taylor Daily Press

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Queen’s Music Royalty Soon Sold for $1 Billion |  music

Queen’s Music Royalty Soon Sold for $1 Billion | music

musicQueen’s music rights are likely to change soon. CNN reported, based on sources in the music world, that Universal Music Group will acquire the band’s catalog from Disney Music Group for more than $1 billion.

According to sources, the deal will be finalized within a month. Universal and Disney declined to comment. The Queen’s spokesperson also declined to comment.

Buying music rights has become popular and profitable in recent years due to the revenue generated by songs through streaming services and social media. The rights to Bruce Springsteen’s work were sold in 2021 for $500 million. To our knowledge, this is the highest amount ever paid for a single artist’s catalog to date.

The value of Queen’s music has increased in recent years, due in part to the huge success of “Bohemian Rhapsody”, which tells the story of the life of singer Freddie Mercury (1946-1991). The movie won four Oscars and captivated audiences everywhere.

See also. Thousands of fans are singing along to “Bohemian Rhapsody” as they wait for Harry Styles

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See also. ‘Bohemian Rhapsody’ Big Winner Golden Globe Awards 2019