David Gilmour lastly will get his “dream” – Pink Floyd have bought their again catalogue for $400m Guitar Contact
Simply final month, David Gilmour stated it was his “dream” to promote the Pink Floyd catalogue “to be rid of the choice making and arguments”.
Properly, it appears Sony was paying consideration, because it’s simply struck a deal to buy the prog rockers’ catalogue for a cool $400 million, in accordance with the Monetary Instances.
Per Music Enterprise Worldwide, the transaction is claimed to incorporate the band’s recording catalogue, neighbouring rights, and identify and likeness rights. It doesn’t, nevertheless, embody publishing rights.
Recorded music royalties for Pink Floyd’s music are at present managed by two corporations: Pink Floyd (1987) Restricted and Pink Floyd Music Restricted. The excellence is that the latter collects income for music recorded earlier than Roger Waters’ departure in 1985, and the previous collects revenues for music recorded after.
In keeping with MBW, the 2 corporations mixed generated £40.399 million throughout the fiscal yr ending 30 June, 2023.
Talks of Pink Floyd promoting their music catalogue first arose two years in the past in 2022.
Again then, it was prompt that quite a few huge music trade gamers have been , together with Sony, Warner Music Group, BMG, Hipgnosis, Harmony, Main Wave and personal fairness group Blackstone.
The sale is the most recent in a string of high-profile music catalogue gross sales lately; in December 2022, Peter Frampton bought his catalogue to BMG in a deal three years within the making, and Queen’s catalogue generated huge bucks this yr when it bought to Sony for £1 billion.