Pink Floyd Sells Iconic Music Catalog to Sony in Landmark $400M Deal
The deal, which has been in progress for a while, encompasses the band’s recordings, branding, and theatrical rights, with the exception of songwriting rights, which the members still control.
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Pink Floyd has agreed to a contract with Sony to sell their music collection and their name and image for $400 million.
According to the Financial Times, two sources familiar with the situation reported that the British rock band has decided to sell their recorded music catalog, name, and likeness while keeping the rights to their songwriting.
Variety reported on Wednesday that the deal was “one of many big agreements in recent years.” It follows years of conflict among the remaining band members regarding the sale terms and controversial remarks by co-founder Roger Waters, which also reportedly delayed the deal.
In a report last month, Variety stated that Pink Floyd and Sony were negotiating a deal.
According to the Financial Times, Sony had not given a statement or admitted a comment regarding the rumored deal by Wednesday morning. David Gilmour, the guitarist for the band, had also not replied to a comment request, and Waters could not be contacted.
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Variety reported in 2022 that Pink Floyd was seeking to sell their recorded music and other assets for up to $500 million. Insiders said that certain potential purchasers were checked by a 2022 Rolling Stone interview with Waters, where he made controversial remarks regarding Israel, Ukraine, Russia, and the United States.
Waters has stated that Russia’s invasion of Ukraine in 2022 was not without provocation. In early 2023, Russia extended an invitation to Waters to speak at the UN Security Council, where he confirmed the statement.
In March 2023, four insiders told Variety that the band’s $500 million catalog rights sale was on the verge of collapse because of disputes among the remaining members. However, individuals with knowledge of the band at that time denied this allegation.
In the same year, Berlin police investigated Waters for wearing a Nazi-style uniform at a concert in the city. During the same year, he fortunately fought in court to hold a concert in Frankfurt, Germany, despite the city’s attempt to cancel it over accusations of racism.
Nazi-style costume. Credits: YouTube
The city labeled Waters as “one of the most famous antisemites globally” and supposedly opposed his concert partly because a previous tour included a balloon in the shape of a pig with the Star of David and different company logos as part of the performance.
Waters has consistently refuted allegations of antisemitism.
In the beginning of 2024, it was announced that Waters was released from his contract as a solo artist by the music rights company BMG due to his remarks about Israel, Ukraine, and the US, regardless of having signed an agreement with them in 2016.
According to Variety, Pink Floyd has one of the most valuable recorded music catalogs in today’s music scene. Some of the band’s best-known albums are The Wall, Dark Side of the Moon, Wish You Were Here, Animals, and others.
In recent years, several well-known artists like Bruce Springsteen, Bob Dylan, Justin Timberlake, Shakira, the Red Hot Chilli Peppers, and more have transferred ownership of their music collections to various music labels. Earlier this year, reports emerged indicating that Sony was discussing the purchase of Queen’s catalog.
