Pink Floyd finally reached an agreement to sell the rights to both the band's recorded music and name and likeness to Sony Music, ending a decades-long period of negativity.
Diversity On Wednesday, he confirmed the news that the British progressive rock band had agreed to sell the rights to their music catalog for $400 million. Catalog and sales rights are considered among the most valuable in contemporary music, including legendary albums. Dark Side of the Moon, I wish you were here, animalsAnd Wall; Not to mention the band's iconic album cover, designed by British art-design group Hipgnosis.
So far, fights between band members, particularly between songwriters Roger Waters and David Gilmour, have prevented a deal from being struck. Included are the estates of keyboardist Richard Wright and founding singer-songwriter Syd Barrett, as well as drummer Nick Mason, the band's third surviving member.
While the deal includes recorded music and title and likeness rights (the latter also encompassing merchandise and theatrical rights), songwriting rights still belong to individual writers.
At one point, it was reported that a $500 million asking price was being asked for the band's rights, with the apparent deal almost reaching 2022. But increasingly strange behavior has come from Waters, whose controversial outspoken political views on Israel and Ukraine have alienated him. After receiving criticism from fans and costing him a solo record deal, it apparently became difficult to find a buyer. Diversity He says there is “little doubt” that the 81-year-old's public statements “devalued the catalogue”.
Last year, fans walked out after Waters arrived late from a concert at the London Palladium, and instead of performing music, he began reading portions of his unpublished memoirs on his laptop. Now that he's been paid, it remains to be seen whether he'll continue playing shows.