The popularity of Queen's music and late frontman Freddie Mercury, likely contributes to the high valuation
Universal Music Group is reportedly in advanced discussions to acquire Queen's catalog from Disney Music Group, according to an insider.
The sale, which is expected to close within a month, is anticipated to exceed $1 billion, according to CNN.
However, a spokesperson from Disney Music Group stated that
they currently have no plans to sell the catalog. If the deal goes through,
it could potentially set a new record for the highest amount paid for a
music catalog.
Bruce Springsteen's catalog sale in 2021 for
approximately $500 million currently holds the record. The popularity of
Queen's music, particularly boosted by the success of the 2018 film
"Bohemian Rhapsody," which focused on the band's story and late frontman
Freddie Mercury, likely contributes to the high valuation.
Notably, other artists such as Justin Bieber, the estate of
David Bowie, and Sting have also recently completed sales of their
respective music catalogs.
Formed in 1970 in London, Queen is an
iconic British rock band. The original lineup comprised four talented
musicians: Freddie Mercury as the lead vocalist and pianist, Brian May on
guitar and vocals, John Deacon handling the bass guitar, and Roger Taylor on
drums and vocals. Queen quickly rose to become one of the most accomplished
and influential bands in the annals of rock music.
