AceShowbiz - Sony Music has acquired the legendary Queen's music catalog in a deal worth £1 billion (approximately $1.27 billion). Sony Music Publishing will oversee the financial, copyright, and contractual aspects of the long-term agreement. The deal is a complex one due to each founding member's individual contributions, with each having penned at least one chart-topping single.

Queen's catalog includes timeless hits such as "Bohemian Rhapsody", "Another One Bites the Dust", "Somebody to Love", "We Will Rock You" and "We Are the Champions". The deal encompasses the band's recorded music, publishing rights, and name and likeness. This means Sony will have the potential to utilize Queen's songs in films, advertisements, and other commercial ventures.

Sony's acquisition surpasses the previous record-breaking deals for music catalogs. In 2021, Sony purchased Bruce Springsteen's publishing catalog for $500 million, and in 2022, they acquired Bob Dylan's rights for over $300 million. This latest deal for Queen further demonstrates the rising value of music catalogs in the entertainment industry.

While all revenue streams from the catalog will be transferred to Sony, the deal excludes live performance earnings. Surviving band members Brian May and Roger Taylor continue to tour under the Queen name with singer Adam Lambert.