Pink Floyd recently made headlines by selling the rights to their recordings, likeness, and more in a deal with Sony Music, as reported by Variety and Financial Times. Despite ongoing tensions between core members Roger Waters and David Gilmour, the agreement was reached, allowing Sony to now control the band’s brand, including merchandise and theatrical rights.
The Deal with Sony Music
The long-rumored deal between Pink Floyd and Sony Music has finally come to fruition, with the band selling off various rights to their music and brand. While songwriting rights will remain with the relevant band members, Sony now has control over the band’s recordings, likeness, and other assets.
Core Members Reach Agreement
Despite past disagreements and political differences, core members Roger Waters and David Gilmour managed to put aside their differences and come to an agreement regarding the sale of Pink Floyd’s rights. This deal marks a significant milestone for the band and opens up new opportunities for their music and brand.
Flurry of Music Rights Sales
This sale is just the latest in a series of music rights sales that have been taking place in the industry. Companies like Hipgnosis have been acquiring recorded music catalogs and songwriting rights at a rapid pace. The recent sale of Hipgnosis to Blackstone for $1.6 billion has raised questions about the management of these valuable assets.
Merck Mercuriadis Steps Down
Merck Mercuriadis, the CEO of Hipgnosis, recently stepped down from his position amid criticism of his management of the company’s music rights acquisitions. This move has sparked discussions about the future of music rights sales and the impact they have on artists and the industry as a whole.
Conclusion
The sale of Pink Floyd’s rights to Sony Music represents a significant development in the music industry. Despite past conflicts, core members of the band were able to reach an agreement, allowing Sony to take control of their recordings and brand. As the industry continues to see a flurry of music rights sales, the future of music ownership and management remains uncertain.
FAQs
Q: What rights did Pink Floyd sell to Sony Music?
A: Pink Floyd sold rights to their recordings, likeness, and brand to Sony Music in a recent deal.
Q: Who retains the songwriting rights for Pink Floyd’s music?
A: The relevant band members will retain the songwriting rights for Pink Floyd’s music, despite the sale to Sony Music.
Q: Why did Merck Mercuriadis step down as CEO of Hipgnosis?
A: Merck Mercuriadis stepped down as CEO of Hipgnosis amid criticism of his management of the company’s music rights acquisitions.
Credit: pitchfork.com
