Pink Floyd considering sale of recorded music catalog for hundreds of millions of dollars, say Bloomberg sources
Pink Floyd is considering selling the rights to their recorded music catalog.
That’s according to Bloombergwhich cite source suggests that band reps have recently reached out to potential acquirers in the music business.
Unsurprisingly, the Floyd catalog is expected to rake in a nine-figure sum (i.e. hundreds of millions of dollars) if it is eventually sold.
Bloomberg reports that the band has only begun negotiations with potential acquirers in recent days.
It’s therefore an interesting exercise to look at the ownership structure of Floyd’s recorded tracks on streaming services.
Based on Spotifycredits are generally reliable, for example, recorded rights (sound recordings) to classical albums Wish you were here (1975) owned by Pink Floyd Music Ltd., no recorded music partners (see below).
(Usually a superstar catalog will be owned by Superstar Name Ltd / Inc under an exclusive license to Universal /Sony/ Warner et cetera.)
Recorded music copyrights to other classic Floyd albums – including The Dark Side of the Moon (1973), wall (1979), and Bell of fate (1994) – listed either way on Spotify:
- (P) Pink Floyd Music Ltd, marketed and distributed by Parlophone Records Ltd, a Warner Music Group The company;
- (P) Pink Floyd (1987) Ltd, distributed by Parlophone Records Ltd, a Warner Music Group Company
Such wording suggests that Floyd is likely to have more control over their catalog than other artists, who are still subject to key- and key-licensing contracts with major record companies.
A bit of background fun: Warner Music Group gained control of the Pink Floyd catalog through GBP $487 million acquired Parlophone Label Group from Universal Music Group in 2013.
Another lucrative record music category that Warner took control of through that deal – by David Guetta – ended up in the artist’s hands last year, presumably after the exclusive licensing deal of you with WMG expired.
Guetta later sold all ownership of his masters portfolio to Warner in a $100 million plus face to face, announced last summer.
Could Pink Floyd’s master portfolio suffer the same fate?
Will interest rate increase scupper Warner – or another potential buyer – the ability to raise the debt needed to withdraw the deal?
Will Pink Floyd turn down all offers and keep their catalog, in the hope that music sales (and valuations) continue to grow and increase?
All possibilities. Interesting time.
A little more background information: Pink Floyd aren’t the only major band/artist to have recently found control of their historic recording rights reverted to them.
Last August, Aerosmith announced a multi-pronged agreement with Universal Music Group, including the transfer band Music by Sony sound recordings (e.g. 1974’s Get your wings1975 Toys in the attic) into a distribution agreement with UMG that covers the full musical value of their career.
The following month, the David Bowie estate announced that it was move the entire catalog of recordings of great artists within a distribution agreement with Warner Music Group.
This means vintage recordings that have been previously licensed by Sony – such as 2016 Black Star – will be controlled by WMG from 2023.
Bob Dylan, had sell my music publishing rights to Universal with over $300 million in 2020, last year also sell the rights to his recorded music with Sony Music/Columbia, in a deal said to be worth around $150 million.
And by the end of 2021, Bruce Springsteen semi-combined even his publishing rights and his recorded music catalog to Sony Music Group with a regional price tag of $550 million.
On the publishing side of the Springsteen deal, Sony has agreed to a co-finance/ownership agreement with Eldridge Industries.Worldwide music business