Why has Sony made such major investments in classic rock when it's not the leading genre on streaming platforms?

Because the future of new music isn't on streaming platforms—and Sony knows it.

When you get radio listeners to pay for streaming music, you're starting with the wrong numbers to measure fandom in music. Only a fraction of music listeners are true fans. Radio and streaming platforms often cater to casual listeners who enjoy music as background noise but aren't deeply invested in any particular artist. Measuring success solely based on streaming numbers emphasizes quantity over quality, favoring easily digestible, often superficial music that appeals to the masses but lacks depth. There's nothing inherently wrong with this approach, but is it really the business of music, or just a sign of the times we are living in where an artist like say Selena Gomez who has 424 million social followers but can't sell out arenas. Maybe it's the pics that count?

I wrote this because I just read an insightful article on Music Business Worldwide (MBW) about the value of Queen and Pink Floyd's catalogs, which were recently acquired by Rob Stringer of Sony Music Entertainment . Allegedly, Sony paid $1.2 billion for Queen’s catalog and $400 million for Pink Floyd's, including "name, image, and likeness" rights.

This move tells us a lot about what labels are truly thinking behind the scenes. They're investing heavily in proven, timeless music with dedicated fanbases rather than focusing on new music that gets lost in the streaming shuffle. Sony recognizes that the real value lies not in chasing streaming numbers but in owning catalogs that have stood the test of time and continue to generate revenue through various channels.

This got me thinking about my experience with The Australian Pink Floyd Show, a band close to my heart. I had the privilege of managing them from theaters up to what The Times newspaper in London called "The Greatest Tribute Band In The World." We grew to perform around 120 shows a year—in 15,000 to 20,000 capacity venues across the US, Europe, and the UK.

This experience showed me first hand the enduring appeal of music with depth and substance, not just in classic rock, but across many genres. There is dedicated fandom in jazz, hip-hop, classical, electronic, and much much more. These genres cultivate true fans who deeply connect with the music they passionatly listen to and provide years of memories.

So why has Sony invested so heavily in music that doesn't top streaming charts?

Because they understand that true value isn't measured by streaming metrics alone. They could leverage these iconic catalogs to build immersive shows around the music, much like the ABBA Voyage show. For both Pink Floyd and Queen, this could generate fortunes in ticket sales, merchandise, and renewed interest in the bands. My experience with The Australian Pink Floyd Show proves there's a massive audience eager for live experiences centered around music with depth.

Digitally Self-Releasing Isn't That Difficult With Superfan Apps

The future of new music lies in digitally self-releasing, and that's where superfan apps come into play. Artists are increasingly taking control of their music distribution, bypassing labels and streaming platforms. They already self-release on vinyl and even CDs, so handling the streaming aspect themselves isn't very difficult. With the rise of superfan apps, artists can directly connect with their most dedicated followers, offering exclusive content, experiences, and merchandise.

Labels Know What They Are Doing - And It's Not What They Say They Are Doing

The labels' focus on acquiring legendary catalogs suggests they see more profitability in timeless music with established fanbases than in new music struggling for attention on streaming platforms. This shift might help wash out some artists who rely heavily on image and lack substantial music. This isn't music; it's image being sold with music as the backstory.

By investing in iconic catalogs and recognizing the importance of dedicated fanbases, companies like Sony are revealing their true strategy. They're acknowledging that the future isn't just about streaming numbers but about meaningful connections between artists and fans—a space where new music can thrive outside the confines of traditional streaming platforms.

Yet again, we're seeing clearly that labels have zero interest in new music that doesn't fit the mass-market mold. Which is good, because artists rarely have any interest in labels that prioritize image over substance.