On October 1, 2024, it was announced that the legendary British rock band Pink Floyd reached a historic agreement with Sony Music. In this deal, valued at approximately $400 million, the band sold their music catalog, as well as the rights to their name and likeness, to Sony. This means that Sony now has the ability to not only profit from Pink Floyd’s existing music but also from future merchandise, films, and TV series based on the band.
Songwriting rights stay with Pink Floyd
The deal includes only the rights to the band’s recorded music, not the rights to their lyrics and compositions. This makes the agreement unique, as the original songwriters of Pink Floyd retain their songwriting rights. For Sony, this acquisition strengthens their position in the music industry, following other major purchases like the catalogs of Bob Dylan and Michael Jackson.
Pink Floyd had been trying to sell their music catalog for the past two years, holding discussions with other major players like Warner Music and BMG before finally choosing Sony. The sale of music catalogs has become increasingly common in recent years, with artists such as Justin Bieber, Tina Turner, Bruce Springsteen and Katy Perry also selling their music rights for hundreds of millions of dollars.
Formed in 1964, Pink Floyd gained worldwide fame with albums such as The Dark Side of the Moon, The Wall, and Wish You Were Here. Their experimental music and profound lyrics have made the band legendary. With the sale of their music catalog, Pink Floyd closes an important chapter in their history while opening the door to new commercial opportunities under Sony’s management.
This deal highlights the enduring value of classic rock music in the modern music industry and demonstrates how iconic bands can monetize their legacy in today’s market.
There is no brick in the wall anymore……..
