How much would you pay for Pink Floyd’s back catalogue? To buy the rights, we mean: this isn’t a story about the band’s latest all-bells-and-whistles box-set…
The Financial Times suggests that WMG and BMG are the front-runners to pay more than $550m for the band’s songwriting and recording catalogues, which could see the deal surpass Sony Music’s 2021 acquisition of Bruce Springsteen’s catalogue in dollar terms.
Reports first surfaced last week that Pink Floyd’s catalogue was up for grabs, so there may well be a carefully-planned process of smoking out potential buyers through the media going on here.
Neither WMG nor BMG have commented, but this morning another company has: One Media iP. That company says it has made a formal offer of £3.5m for a 1% stake in the Pink Floyd catalogue. “We have done our numbers,” promised CEO Michael Infante.
We suspect that if Pink Floyd are doing their own numbers, they may still be more likely to opt for the 100% option with WMG or BMG.