Pink Floyd has become the latest major musical act to sell the rights to its catalog. October 3, 2024.
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(New York, NY) – The Pink Floyd lyrics were foretelling: “Money, it’s a gas. Grab that cash with bond hands and make a stash.” And what a stash it is: the legendary English rock band has sold the rights to their recorded music to Sony Music. An a reported value of $400 million, it tanks among the most valuable music catalog deals in history.
In addition to the sale of their music catalog, Pink Floyd has transferred its name-and-likeness rights to Sony. That means the entertainment giant can sell TV shows and movies based on the band, as well as merchandise. Inclusive of classic albums like “The Wall,” “Dark Side of the Moon,” and “Wish You Were Here,” Pink Floyd’s catalog was in high demand. In recent years, Sony has also bought the catalogs of legendary artists like Bruce Springsteen and Bob Dylan.
Artists with longstanding success selling records and CDs have been increasingly looking to sell their catalogs in this era of streaming music and virtual record sales. For some bands, especially if comprehensive world tours are unrealistic, the sale of the music catalog represents a final chance at a massive payday.
