Universal Music Group (UMG) is reportedly in advanced discussions to acquire the catalog of the legendary rock band Queen from Disney Music Group, according to a source familiar with the matter. The deal, expected to close within a month, is rumored to surpass $1 billion, potentially setting a new record for the highest amount paid for a music catalog, as reported by CNN.
While the acquisition is still pending, a spokesperson from Disney Music Group has stated that they currently have no plans to sell the catalog. However, if the deal goes through, it would mark a significant milestone in the music industry.
The immense popularity of Queen’s music, further propelled by the success of the 2018 biographical film “Bohemian Rhapsody,” which depicted the band’s journey and the iconic frontman Freddie Mercury, has likely contributed to the high valuation. Queen’s extensive discography includes timeless hits like “We Will Rock You,” “Bohemian Rhapsody,” and “Don’t Stop Me Now,” which have captivated audiences for decades.
If the acquisition is finalized, it would surpass the previous record set in 2021 when Bruce Springsteen’s catalog was sold for approximately $500 million. The continuous interest in acquiring music catalogs highlights the value that iconic artists’ collections hold in the industry.
It’s worth noting that several other renowned artists have recently made significant deals involving their music catalogs. Justin Bieber, the estate of David Bowie, and Sting are among those who have successfully completed sales of their respective catalogs, showcasing the ongoing trend of catalog acquisitions in the music business.
As negotiations between UMG and Disney Music Group progress, the potential acquisition of Queen’s catalog will undoubtedly attract attention and shape the future of music catalog valuations.