In a major deal marking the end of years of negotiations, iconic British rock band Pink Floyd has sold its recorded music catalog and name-and-likeness rights to Sony Music for approximately $400 million. The agreement, finalized in early October 2024, brings closure to a long process that was frequently hindered by internal disputes among the band’s surviving members.
This landmark sale includes rights to Pink Floyd’s recorded music, along with the use of the band’s name and image in merchandising and entertainment projects. However, it notably does not include the rights to their songwriting, which remain with the individual members. This gives Sony exclusive control over the band's recordings but leaves the publishing royalties in the hands of Roger Waters, David Gilmour, and the estates of the late Richard Wright and Syd Barrett.
David Gilmour performing Pink Floyd's 'Wish You Were Here' last week in Romepic.twitter.com/YYLV9LO2IH
— Far Out Magazine (@FarOutMag) October 3, 2024
Pink Floyd’s catalog is considered one of the most valuable in rock history. The band, known for timeless albums like The Dark Side of the Moon, The Wall, and Wish You Were Here, has sold over 250 million records globally. Sony’s acquisition adds another major classic rock act to its portfolio after securing similar deals with artists like Bruce Springsteen and Bob Dylan.
The deal took years to finalize, primarily due to infighting among Pink Floyd's members. Roger Waters, the band’s former leader and primary lyricist, has had long-standing personal and political conflicts with guitarist and vocalist David Gilmour. Waters’ controversial political views, including his support of Russia and opposition to Israel, reportedly scared off potential buyers and delayed the sale.
The iconic British rock band Pink Floyd has agreed to sell their recorded-music and name-and-likeness rights to Sony Music for approximately $400 million. https://t.co/liiT0n9zsM
— Variety (@Variety) October 2, 2024
David Gilmour, who has been at odds with Waters for decades, expressed relief at finally offloading the catalog, stating that it would allow him to escape the “mud bath” of conflicts and decisions surrounding the band’s legacy. He emphasized that his motivations were less financial and more about distancing himself from the turmoil that has long plagued the band’s relationships.
While the band members themselves largely remained anonymous figures, much of Pink Floyd's legacy is tied to their iconic album art, much of it created by Hipgnosis, the design firm responsible for the imagery on The Dark Side of the Moon and other works. These visual elements, which are part of the name-and-likeness rights sold to Sony, hold significant merchandising potential in the form of album reissues, posters, and other branded merchandise.
In recent years, the music catalog sales market has exploded, with legendary artists increasingly selling their rights for astronomical sums. Bruce Springsteen’s 2021 deal with Sony was reportedly worth $550 million, and Bob Dylan’s rights fetched around $400 million in 2020. Other artists, like Justin Bieber and Katy Perry, have also cashed in on their catalogs for hundreds of millions.
This acquisition gives Sony a firm grip on one of the most influential music catalogs in history, and the company is expected to leverage this through streaming, licensing for movies and shows, and various merchandising opportunities. Fans and collectors alike are likely to see more Pink Floyd memorabilia and media projects in the years ahead.
