Pink Floyd has reportedly sold their music catalogue to Sony Music Entertainment for $400 million (£301 million). According to The Financial Times, the legendary British rock band has agreed to sell their recorded music rights, along with name-and-likeness rights, to Sony. However, the deal does not include songwriting rights, which remain with the individual band members.
This acquisition gives Sony the ability to capitalize on merchandise sales and future projects, such as potential TV shows or films. Neither Pink Floyd nor Sony representatives have commented on the reported sale.
Formed in London in 1965, Pink Floyd is considered one of the greatest progressive rock bands of all time, with a lineup that included Syd Barrett, Nick Mason, Roger Waters, David Gilmour, and Richard Wright. Their iconic albums include The Dark Side of the Moon (1973), Animals (1977), and The Wall (1979). The band was inducted into the Rock and Roll Hall of Fame in 1996.
Despite internal conflicts and a long hiatus, Gilmour and Mason reunited in 2022 to release Hey, Hey, Rise Up! in protest of the Russian invasion of Ukraine. Gilmour, now 78, expressed in an interview with Rolling Stone that his decision to sell was driven more by a desire to move away from the complexities of managing the catalogue rather than financial reasons.
In recent years, Sony has made significant investments in music catalogues, acquiring the rights to the works of Bruce Springsteen, Bob Dylan, and Queen, among others.