Pink Floyd is one of the most successful acts in the history of recorded music. I don’t have an exact number on the band’s lifetime revenues, but it’s gotta be somewhere beyond a billion dollars. The three remaining guys have had more money than they can ever spend for decades.
Now, though, there’s a rumour (via Bloomberg) that Pink Floyd is looking for one final cash-out: A sale of their catalogue, just like we’ve seen with Bruce Springsteen, Sting, Bob Dylan, and so many others in recent years.
The rumour says that it’s the band that reached out to potential buyers rather than the other way around. Anyone asked for comment has said nothing.
How much might Floyd’s music go for? A lot. The band has sold 75 million albums in the US alone. Dark Side of the Moon holds the record for the longest streak on the Billboard album chart. Every album since 1971’s Meddle is multi-platinum. And the band is a state of rock radio worldwide.
I can see David Gilmour wanted to do this. After all, he’s been in a purging mode since 2003 when he tried to sell his London house to raise funds for the homeless. And we can’t forget the auction of all his beloved guitars, including his legendary Black Strat.
It all depends if the master recordings are included in any sale. If they are, remember that Bruce Springsteen got US$550 million for his life’s work, which is the current high-water mark for catalogue sales. You’d think that Floyd’s canon would be worth even more, right? And who has that kind of cash?
We’ll see where this goes.
UPDATE: Who would have the kind of money necessary to buy Pink Floyd’s assets? WMG and BMG have both declined to comment on rumours. Meanwhile, Music Ally reports that a company called One Media iP has offered £3.5 million for a 1% stake in the Floyd catalogue. Extrapolating from that offer, it appears that they believe the catalogue is worth £350,000,000 or US$427,000,000. That seems low to me, given that Springsteen got US$550 million for his life’s work.