Pink Floyd may now be ready to sell their entire back catalog as times get tougher for musicians both new and old. It was stated recently that the currently reported price for the catalog will be somewhere around the £400 million range in a bidding war, as reported by The Times.
A well-known private equity group, Blackstone, has been a maverick in the conversations with the band but faces fierce competition from major labels Sony, Warner, and BMG, among others. It seems that a label will be the ones to pick it up as labels are struggling to bring in large amounts of money now due to a rise in independent acts.
If a label are to grab up the catalog, then they will be able to make royalties off of such an investment.
The sale would mean that there would be a new owner of all Pink Floyd songs and master recordings, up until this year’s “Hey, Hey, Rise Up!”, which marked the band’s return to the studio.
It should be noted that Pink Floyd are far from the first legendary act to sell their catalog rights, as the likes of Sting, Bob Dylan, ZZ Top, Bruce Springsteen, and many more have sold away their recordings recently, with many making a deal via the Hipgnosis Song Fund.
We will be seeing this happen more often as well with artists, in our belief. It’s not only a way to stay solidified as a huge act and to ensure that the music is still continued to be pushed, but it’s also a seal of approval financially, which will make sure that everyone involved with the band are taken care of for the rest of their life as well as any family members that may be related to the artists in question as well.
