Freddie Mercury’s “wife” is about to receive another impressive sum of money after the sale of Queen’s catalog for approximately USD 1.2 billion. The transaction, the result of an agreement with Sony, will guarantee Mary Austin, 73, a payment of around USD 237 million.
Since the Queen frontman’s death in 1991, Austin has been the primary beneficiary of his estate. She initially received half of Mercury’s estate and, later, another 25% after the death of the musician’s parents.
Additionally, she continues to receive 18.75% of the revenue generated globally by Queen Productions, the company responsible for controlling the band’s catalog and distributing profits among the surviving members: Roger Taylor, John Deacon and Brian May.
Although Mary does not maintain frequent contact with the late Freddie Mercury’s bandmates, she plays a crucial role as a trustee of the Mercury Phoenix Trust, a charity established in Freddie Mercury’s honour. The trust is dedicated to raising funds and awareness about HIV/AIDS.
Mercury and Austin met in 1970, when he had just arrived in London from Zanzibar in hopes of becoming a successful musician. The couple moved in together and eventually got engaged in 1973. Three years later, however, the rock star revealed his sexual preferences, ending their romantic relationship, although they remained close friends.
In a past interview, Austin recalled that moment: “He said, ‘I think I’m bisexual.’ I told him: ‘I think you’re gay.’ And we didn’t say anything else. “We just hugged each other.” Even after their separation, in interviews Mercury continued to refer to her as her “wife” until the end of her life, showing the depth of their bond.
Mary Austin has so far dedicated her life to preserving Freddie Mercury’s legacy, and with her recent gain, she will now be among the 100 richest women in Britain.
On June 20, it was announced that the legendary British rock band Queen transferred its music rights in North America to Sony Music Entertainment for a figure exceeding one billion dollars, marking the largest music catalog sale in history. The record so far belonged to Bruce Springsteen, who in 2021 gave up his catalog for approximately USD 420 million.
The acquisition includes all 15 studio albums and numerous hit singles that have defined the band for decades. These include timeless anthems such as “Bohemian Rhapsody,” “We Will Rock You” and “We Are the Champions.” Unlike artists such as Springsteen and Bob Dylan, however, Queen will retain the rights to perform their music in live concerts.
Founding members Brian May, 75, and Roger Taylor, 74, have continued to tour with Adam Lambert, 42, as singer since 2011. Bassist John Deacon, 72, has retired. of music in 1997.
It was also revealed that the agreement covers merchandising earnings, revenue from the biopic Bohemian Rhapsody 2018 and any other future projects or license agreements.
Investors view music catalogues as dividend-producing assets, similar to corporate stocks. The valuation of Queen’s catalogue is based on the annual returns its buyer can expect over the coming decades.
In the United States, Queen album consumption units were 25.9 million between 1991 and 2017, a figure that increased to 3.58 million in 2019 after the release of the successful film starring Queen. Rami Malekaccording to data from Luminate.
