Pink Floyd has apparently sold rights to the band’s entire recorded-music catalog, plus name-and-likeness, to Sony Music for a staggering $400 million in a landmark deal that found the iconic band under the same roof as some of the most well-known acts.
The deal with Sony gives the company exclusive rights to the enormous back catalog of Pink Floyd, which includes classic albums such as The Dark Side of the Moon, The Wall, and Wish You Were Here. It gives them licensing rights for films, TV, and video games that include the band’s music, along with creating and selling merchandise and other products under the Pink Floyd brand.
The deal was anything but straightforward to negotiate. The primary reason was the deep-seated friction inside Pink Floyd, mainly between David Gilmour and Roger Waters. It is differences between these two men that have gone on for decades, and just because of that, it led to long disputes that hampered the sale. According to sources, Gilmour was particularly eager to finalize the sale and try to move away from all conflicts within the band. He drove it through, pushing to close, after near-deals and breakdowns over many years.
This sale of Pink Floyd’s catalog fits into a growing trend where more artists have begun liquidating their music in exchange for large amounts. In just the recent past, huge names have included Bruce Springsteen and Bob Dylan, who have similarly sold their catalogs for hundreds of millions.
These deals represent a turn that the music world has taken, where performers look to their old age for security by cashing in their most valuable assets: their music. For instance, Springsteen’s rights recently sold for an estimated $500 million in 2021, while Bob Dylan’s catalog went for an estimated $300 million in 2020. A $400 million deal for Pink Floyd places them among the upper echelons of these high-profile sales.
Such a deal provides Sony with a treasure trove of iconic Pink Floyd music, part of ambitious plans that are being considered for releases in the future. First among the most expected projects, Pink Floyd will release a 50th-anniversary edition of its classic album ‘Wish You Were Here’, which is expected in 2025. The move would no doubt revive these interests among fans and seal the band’s place in the annals of history with a generation of newer listeners.
