After years of drama and a whole lot of backstage bickering, British rock band Pink Floyd is cashing in on their unique sound and likeness. The band has officially struck a deal to sell their recorded music, name and license rights to Sony in a deal reportedly worth $400 million.
Sony now controls the band’s recordings, brand and merchandise rights, though the songwriting rights remain with the individual members.
The sale includes their famous albums like “The Dark Side of the Moon” and “The Wall,” adding to Sony’s growing catalogue of legendary artists.
The sale marks one of the largest music catalogue deals in recent years. Despite decades of tension between key band members Roger Waters and David Gilmour, the deal was able to be agreed upon along with drummer Nick Mason. It also included the estates of keyboardist Richard Wright and founding member Syd Barrett.
The path wasn’t easy. Waters’ controversial political statements have caused delays and scared off buyers in the past. He’s been outspoken about Israel, Ukraine and Russia.
With this agreement, Sony takes over one of the most valuable music catalogues.
While the band has stayed quiet about the deal, it’s been confirmed by multiple sources.
Over the last few years, other high-profile artists like Bruce Springsteen, Bob Dylan, Justin Timberlake, Shakira, the Red Hot Chili Peppers and others have sold their music catalogues, some for as much as nine figure sums.
