Pink Floyd has struck a monumental deal, selling their music catalogue, name, and likeness to Sony for a reported $400 million.
The U.K.’s Financial Times first broke the news on Tuesday, Oct. 1, noting that this landmark sale allows Sony to profit from not only the band’s music but also future merchandising opportunities, television spin-offs, and potential films.
However, the sale did not include the rights to their songwriting, as only their recorded music rights were part of the agreement.
The iconic progressive rock band was founded in 1964 and originally consisted of Roger Waters, Nick Mason, and the late Syd Barrett and Richard Wright. David Gilmour joined in 1967.
According to reports, Pink Floyd had been seeking buyers for at least two years and engaged in talks with other major players like Warner Music, BMG, and Hipgnosis before finalising the deal with Sony.
This deal stands as one of the largest of its kind, with Variety referring to it as a major moment in a growing trend.
Similar notable sales include Justin Bieber’s $200 million catalogue deal and Katy Perry’s $225 million music sale earlier this year. Sony also made headlines with its purchase of Bob Dylan’s catalogue in 2022, further solidifying its dominance in the music world.