Sony Music buys Pink Floyd's music catalog for $400 million
In a landmark deal, British rock band Pink Floyd has sold its recorded music catalog, name, and likeness rights to Sony Music for a staggering $400 million. The agreement includes the band's iconic albums but excludes songwriting rights. This sale comes after years of internal disagreements among band members and a nearly successful similar negotiation in 2022 that fell through due to these conflicts.
Deal includes iconic albums, excludes songwriting rights
The deal encompasses Pink Floyd's recorded music rights but not the songwriting rights. It includes their highly valuable music catalog featuring iconic albums such as Dark Side of the Moon, The Wall, and Wish You Were Here. These albums hold a significant position in the music industry.
Sony Music's history of acquiring music catalogs
Sony Music is known for its acquisitions of music catalogs, having spent over $1B on catalogs from artists like Bob Dylan and Bruce Springsteen. The current deal with Pink Floyd was almost sealed in 2022 for $500 million. However, it fell through due to internal conflicts, including political comments made by band member Roger Waters against Israel and Ukraine.
Pink Floyd's recent music release and band history
In 2022, Pink Floyd released new music for the first time in nearly three decades with Hey Hey Rise Up. The song featured band members David Gilmour and Nick Mason, with vocals from Ukrainian singer Andriy Khlyvnyuk. Formed in London during the mid-1960s, Pink Floyd became influential in the UK psychedelic music scene. Original member Waters left the band in 1985, and the remaining members last recorded together in 1994 for The Division Bell album.
