Queen's music catalog might reportedly be secured for a hefty amount, music industry insiders said.
The industry saw the biggest catalog sales over the past years, with Bruce Springsteen's $500 million deal being the one with the highest price tag yet. The record will be surpassed soon once the British rock band pursues the potential sale.
Queen's Music Catalog Has a Hefty Price Tag
Music industry insiders told Music Business Worldwide that Queen entered the early stages of selling its catalog which would be sold for $1.1 billion, doubling the worth of Springsteen's catalog.
Although there are only three surviving members of Queen - Brian May, Roger Taylor, and John Deacon - the amount will be split equally between their estates and Freddie Mercury's estate.
The report did not reveal the music company that could secure the deal, but several major music companies including Universal Music Group, have been trying to acquire the music catalog. Private equity groups have also been vying to land on the deal, according to the report.
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As of press time, Disney Music Group owns the catalog in North America
The $1.1 billion music catalog includes the band's hit discography, including 15 studio albums, 10 live albums, and two soundtrack albums. Among the tracks, its hit song "Bohemian Rhapsody" caused an increase in streaming and physical sales after it was featured in the 2018 biopic of the same name.
The flick, which only had a $50 million budget, grossed over $910 million worldwide, the report said.
Queen To Release New Music
With Queen's active members Taylor and May, the band is said to be gearing up to release new music with its current frontman, Adam Lambert.
In a previous interview, May opened up about the possibility of Queen dropping new music soon. Unlike its past albums after Mercury's death, it would feature its current singer.
"It's a lot of pressure if you think about it. If they're going to put something out that's new, it's got to be at a certain level. It has to be the right thing," the Queen member said. "And I've always said, 'Is it appropriate for me to be doing new material?' I feel like it scares me."
May previously hyped fans with a similar update in 2021, saying that he was in the studio with Lambert and Taylor. However, he has not released a new update since hinting at the potential release.
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