Pink Floyd has officially finalized a $400 million deal with Sony for their music catalog. The agreement includes rights to their recorded music, name, and likeness but does not cover songwriting rights.
The deal had been delayed due to internal conflicts and controversial comments by band co-founder Roger Waters. Despite these challenges, the deal makes Pink Floyd one of the highest-grossing artists to sell their catalog in recent years.
Pink Floyd Sells Music Rights to Sony
Pink Floyd agreed to sell their music catalog to Sony for approximately $400 million. The deal also includes rights to the band’s name and likeness. However, songwriting rights were excluded from the agreement. The news was first reported by the Financial Times, citing sources close to the deal.
Band Member Disputes Delayed the Sale
The sale was delayed due to internal disagreements among surviving band members. Reports of feuding between members, including David Gilmour and Roger Waters, complicated the process. The conflict centered around Waters’ controversial public statements. Despite this, the sale was eventually finalized after years of negotiations.
Waters’ Comments Affected Deal Progress
Roger Waters’ controversial comments on political issues reportedly slowed down the deal. In a 2022 interview, Waters made statements about Russia, Ukraine, and Israel that stirred public and industry backlash. These remarks caused potential buyers to hesitate. The band eventually secured a deal with Sony despite these setbacks.
Sony Yet to Comment on the Deal
As of the deal’s announcement, Sony had not made any public statements regarding the acquisition. Media outlets contacted Sony for comment, but no response was provided. The same silence came from David Gilmour and Roger Waters, who also declined to comment. Sony’s quiet approach has left some industry insiders speculating on future developments.
Controversy Over Waters’ Antisemitism Allegations
Roger Waters faced accusations of antisemitism, which contributed to tensions surrounding the sale. Waters denied these claims but continued to face scrutiny from the public. He was even investigated by German authorities for wearing a Nazi-style uniform during a performance. The controversy further complicated the sale negotiations.
Waters Dropped by BMG Over Comments
In early 2024, Waters was dropped by music rights company BMG. This decision was reportedly tied to his comments on political issues, particularly those related to Israel and Ukraine. BMG had signed Waters as a solo artist in 2016, but the relationship soured. The split marked another chapter in the ongoing controversies surrounding Waters.
$500M Price Tag Initially Sought
Pink Floyd initially aimed for a higher sale price for their music catalog. In 2022, they reportedly sought as much as $500 million for their assets. However, the ongoing disputes among the band members and Waters’ remarks drove the price down. The final deal with Sony closed at around $400 million.
Pink Floyd’s Catalog Among Most Valuable
Pink Floyd’s music catalog is considered one of the most valuable in modern music. Iconic albums such as The Dark Side of the Moon, The Wall, and Wish You Were Here have solidified the band’s legacy. These albums continue to generate significant revenue through streaming and sales. This made the catalog a highly sought-after asset in the industry.
Variety Describes the Deal as Major
Variety described the Pink Floyd deal as one of the largest music catalog sales in recent years. The sale places the band among other high-profile artists like Bob Dylan and Bruce Springsteen, who have also sold their catalogs. This trend reflects the growing demand for music assets by companies like Sony. The Pink Floyd deal is seen as a significant event in this market.
Queen’s Catalog Reportedly Targeted by Sony
Earlier reports suggested that Sony was in talks to acquire Queen’s music catalog. This follows a broader industry trend of major labels purchasing legacy artists’ catalogs. If finalized, this would be another multi-million-dollar deal for Sony. The acquisition of Pink Floyd is likely part of this larger strategy to expand their music portfolio.
Industry Trend: Artists Selling Music Catalogs
Pink Floyd joins a growing list of artists who have sold their music catalogs in recent years. Other notable musicians, including Bruce Springsteen, Justin Timberlake, and Shakira, have made similar deals. The rise of streaming has increased the value of these catalogs for buyers. Selling their music rights allows artists to secure massive payouts.
Pink Floyd’s Legacy Remains Strong
Despite the controversies, Pink Floyd’s legacy remains firmly intact. The band’s music continues to resonate with generations of fans worldwide. Their iconic albums still perform well on streaming platforms, ensuring their music endures. The $400 million deal with Sony further cements their place in rock history.
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