British band Queen is selling their entire music catalog and publishing rights for a staggering $1.2 billion after similar artists of megawatt status sold theirs in the past few years.
It has been a recurring conversation that old artists or acts that have peaked in the past decades would not retain the value of their relevance and even their music. However, new insider information suggests otherwise.
Queen, the surviving members and estate of Freddie Mercury's band, is close to selling their entire music catalog and global publishing rights for $1.2 billion.
Queen Selling Their Music Catalog
For those who are confused, the rights to using Queen's music in the North America is managed by Disney Music Group. Meanwhile, the band retains the ownership of their global rights through their own productions.
According to The Daily Mail, the $1.2 billion value of Queen's music catalogue is based on the " annual returns an investor can expect throughout the next several decades."
Owning Queen's music catalog also entitles the buyers to the "master copyright" of its recordings, including its publishing copyright for its written music and lyrics.
Leading music industry lawyer Guy Blake says the catalog sale would be "seismic" and "one of one" if the claims of its value prove to be true.
"In general, I don't see a problem with this [$1.2 billion] number being accurate, I think there's probably some degree of truth to it, Blake told the outlet. "There aren't a whole lot of catalogs out there like Queen."
Blake also pointed out that the British band is making a wise decision to strike at the market while it is "at its height."
READ ALSO: Roger Taylor Created This Song for Queen After Learning Freddie Mercury Was Dying
Who's Buying Queen's Music Catalog?
According to The Daily Mail, Universal Music Group is the current frontrunner in the deal. Billboard sources also revealed that they may have already reached an "exclusive period with an undisclosed suitor."
Aside from purchasing the masters and publishing copyrights, the buyer will also acquire "ancillary" income streams which would include revenue from other sources. For example, the owner of their catalog would also gain from the merchandise sold generated by the "Bohemian Rhapsody" film, and any other projects adjacent to the band.
In Queen's case that includes revenue from merchandise, cash generated by the 2018 biographic movie "Bohemian Rhapsody," and any other future projects and licensing deals.
READ ALSO: Heartbreaking Reason Why Freddie Mercury Hid His Sexuality, AIDS Diagnosis Revealed
