Pink Floyd sells music rights to Sony for $400 million

Iconic British rock band Pink Floyd has sold the rights to their recorded music to Sony Music in a deal valued at nearly US $400 million, according to a report by the Financial Times. 

The deal concludes years of negotiations and legal disputes between key band members, including Roger Waters, David Gilmour, and Nick Mason, along with the estates of keyboardist Richard Wright and original singer-songwriter Syd Barrett. Notably, the sale includes the rights to Pink Floyd's recorded music but excludes songwriting rights, which remain with individual songwriters. The agreement also covers the band's name and likeness, which encompasses merchandise, theatrical, and other related rights.

One significant inclusion in the deal is much of Pink Floyd's iconic artwork, which was predominantly designed by British design firm Hipgnosis. Albums like "Dark Side of the Moon", "The Wall", "Wish You Were Here", and "Animals" have long been associated with their distinctive visual designs, further adding value to the agreement.

While there has been no official comment from the band members or Sony Music, the Financial Times report claims to have information on the final terms of the sale.

Sony Music has been actively acquiring major music catalogues in recent years, having spent over a billion dollars on rights from artistes like Bruce Springsteen, Bob Dylan, and Queen's non-North American catalogues. The Pink Floyd acquisition marks another significant addition to Sony's growing portfolio.

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