Pink Floyd Strikes $400 Million Deal with Sony for Music and Likeness Rights
In a deal that has been in the works for quite some time, Pink Floyd has officially sold their music recordings, likeness, and other rights to Sony Music for a staggering $400 million. Reports indicate that while the rights to the band’s recordings and branding now belong to Sony, the core songwriting rights will remain under the control of the band members themselves.
This significant agreement suggests that key members Roger Waters and David Gilmour have managed to find common ground despite their ongoing disagreements, which have stemmed from Waters’ vocal political stances regarding issues involving Ukraine, Israel, and the United States. In addition to their beloved music catalog, Sony will now hold authority over the band’s brand, which encompasses merchandise and theatrical rights.
This sale is part of a broader trend in the music industry where many artists and bands are opting to sell their rights. Recent deals have seen multiple artists’ recorded music catalogs and songwriting rights change hands in a wave of acquisitions. Notably, Hipgnosis, a venture-capital firm that has been involved in many such transactions, recently made headlines after being sold to Blackstone for $1.6 billion.
As the music rights sector continues to evolve, this major deal marks a pivotal moment for Pink Floyd, solidifying their legacy while also demonstrating the ongoing demand for iconic music properties in today’s market.