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A simple acquisition can have a whole lot of narrative or let’s just say a darker narrative behind it. While it’s not uncommon for huge multimedia corporations to buy catalogs of legendary bands at staggering sums. However, when Sony acquired Queen’s music catalog, for $1 billion the entire music industry was left shocked.
Queen | Credits: Koh Hasebe; Distributed by Elektra Records | Public Domain/Wikimedia CommonsA resurfaced Instagram video is making rounds on the internet. The user initially started by informing the public about the above-mentioned acquisition. But soon, the video took a darker turn when he detailed why Sony allegedly made this shocking move in the first place.
Sony’s Alleged Reasoning Behind Buying the Entire Queen Catalog
Not just the music catalog, but Sony also acquired several other rights excluding live performance revenue (this Brian May and Roger Taylor will retain) for an impressive $1 billion as reported via HitsDailyDouble. Another bidder was also close to buying the catalog but fell short at $900 million.
Queen | Credits: Raph_PH | CCA 2.0/Wikimedia CommonsQueen’s catalog is of great value and features some of the most iconic songs in the history of rock music. From hits like Bohemian Rhapsody to the legendary stadium anthems We Will Rock You and We Are the Champions. The band has truly revolutionized the entire genre. And these songs have not only broken records but are also pivotal when it comes to financial returns.
But while the deal seems normal to many, according to an Instagram user named syncmoney. There’s allegedly another reason why Sony invested such a huge sum, without even an ounce of thought.
In his video, he said:
The more sinister reason Sony acquired this catalog is that now they have the full rights to train AI models on anything that has to do with Queen: their music, their style, their look, their entire likeness, and in turn generate completely new songs. Completely new performances with completely new avatars based on Freddie Mercury and the other band members. AI and the training of AI models are the real reasons why these huge companies are buying up all these catalogs at such a high valuation.
Before detailing, Sony’s alleged sinister plan, he also added how due to a specific clause in the contract the company can use the singer’s name and likeness forever and in any place. And after buying the catalog, Sony will no longer have to pay in order to use Queen’s songs.
For instance: a Queen song usually costs between $500,000 and $1,000,000 for a movie. So, every time Sony uses a song of the rock band in their projects. They can quicky get back the money they spent, and even more profits across different types of content.
After Queen Sony Eyes to Acquire Pink Floyd Catalog
After successfully incorporating the Queen catalog under its banner, rock band Pink Floyd was under the radar of Sony. And if recent reports by Music Business Worldwide are to be believed the band has agreed to sell their music catalog for a staggering $400 million.
This agreement includes the band’s entire recordings catalog, rights to their name and likeness as well as neighboring rights. However, it does exclude publishing rights. Further, Floyd’s catalog was first put up for sale in 2022, and also featured some of the biggest names in a bidding war.
Pink Floyd via Wish You were Here Music video | Credits: YouTubeFor instance, names like Sony Music Group, Warner Music Group, and BMG to name a few showed interests in buying it. In July 2022, Apollo Global Management made an announcement that it would lead a $700 million investment plan for Sony, so that they could fund music deals.
This was not the first case where Sony had partnered with outside investors. In 2021, as well Sony partnered with Eldridge Industries when they bought Bruce Springsteen’s recorded music rights and publishing records.
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