Pink Floyd’s catalogue reportedly sold for US$400 million
David Gilmour has his wish: He no longer has to deal with Roger Waters now that Pink Floyd’s catalogue has been purchased by Sony for US$400 million.
I’m surprised that the sale price was so low. If Queen’s catalogue went for US$1 billion and Springsteen got US$550 million of his, US$400 million feels cheap.
Think about it. Pink Floyd albums still sell. The box sets and reissues sell. Their music streams reliably. And every 15 minutes, a classic rock radio station plays one of their songs. The two Pink Floyd corporate entities, Pink Floyd (1987) Limited and Pink Floyd Music Limited, generated about US$50 million in the companies’ last fiscal year.
Then again, it’s not an all-encompassing deal. It includes the band’s recordings catalogue, neighboring rights, and “name and likeness” rights. However, it doesn’t include publishing. THAT’S where all the money is.
So does that mean the publishing could still be in play? We’ll see/
Can you please explain how this differs to the others like Queen, Springsteen, etc? What exactly can the buyer of Pink Floyd’s recordings do and what can’t they do without publishing rights?