World-renowned band Queen’s musical repertoire may soon fetch an unprecedented sum in a potential transaction. A well-informed insider told CNN that discussions have advanced significantly for Universal Music Group’s acquisition of Queen’s musical catalog, currently held by Disney Music Group.
The insider has projected that this transaction might cross the whopping $1 billion mark and could be finalized within the next month. CNN has made attempts to reach out to Universal Music Group and Disney Music Group, and a spokesperson for Queen for further information.
The highest record of music catalog sales was set by Bruce Springsteen in December 2021 when he sold his song catalog for an estimated $500 million. This landmark sale still holds the record for the highest price a music catalog has fetched. However, should the proposed sale of Queen’s catalog come to fruition, it would set a new record in the music industry.
The speculated colossal value of Queen’s music catalog can be partially attributed to the renewed interest in the band’s music following the success of the 2018 Academy Award-winning film, “Bohemian Rhapsody.” The film chronicled the birth of the band with a special emphasis on the late lead vocalist, Freddie Mercury, sparking a revival in the popularity of the band’s music.
Other recent notable catalog sales include those of Justin Bieber, David Bowie’s estate, and Sting, demonstrating the growing trend in the music industry for artists to sell their music catalogs.
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