Sony Music is reportedly in advanced negotiations to acquire the music rights of legendary rock band Pink Floyd for a staggering $500 million. This deal, if finalized, would grant Sony ownership of Pink Floyd’s iconic catalog, including hits like “Another Brick in the Wall,” and more.
The band’s music rights have been a hot commodity for years, attracting interest from major players like Warner Music, BMG, and Hipgnosis. However, internal conflicts between band members, particularly David Gilmour and Roger Waters, have historically hindered any potential sale.
The reported price tag is based on the band’s substantial earnings. Publicly available financial records reveal that Pink Floyd’s two UK-based companies, Pink Floyd (1987) Limited and Pink Floyd Music Limited, generated a combined revenue of £40.399 million (USD 50.24 million) in the fiscal year ending June 30, 2023. This represents a significant increase from the previous year, driven by the band’s enduring popularity and continued streaming and sales of their music.
While the deal seems increasingly likely, sources suggest that there’s no guarantee of a final agreement due to the band’s long-standing internal conflicts. Despite the challenges, the sale would grant Sony ownership of Pink Floyd’s recorded music rights and “name and likeness” rights, excluding music publishing rights.
The potential sale of Pink Floyd’s music rights signifies the ongoing trend of music catalogs becoming valuable assets, attracting significant investment from major corporations and private equity firms.
