Iconic British rock band Pink Floyd has made headlines by selling their recorded music and rights to Sony Music for a staggering €362 million (approximately $400 million). This monumental deal marks a significant milestone in the music industry, especially after decades of internal conflicts among band members, particularly between Roger Waters and David Gilmour.
The agreement, reported by Variety, is one of the largest in recent history and has been finalized after years of disputes within the band. The deal encompasses the rights to their recorded music and the rights to the band’s name and image. However, it does not include the rights to the compositions, which remain with the individual authors.
This sale is part of a growing trend where artists are opting to sell their music catalogs to major labels. Sony Music has previously invested over $1 billion in acquiring the catalogs of other legendary artists, such as Bruce Springsteen and Bob Dylan.
