Breaking news

They Are the Champions: Sony Music Secures Queen’s Recording And Publishing Rights

Sony Music has triumphed in the battle for Queen’s recording and publishing rights, along with their associated revenue streams, including those from the Disney deal. House Stringer and Platt reportedly clinched the winning bid at a staggering 1 billion pounds sterling.

Disney, which has held the recording rights in North America since a $10 million deal in 1990, has been paying substantial royalties to Queen—these will now be directed to Sony under the new arrangement. Similarly, revenue from the licensing deal with UMG for the rest of the world will flow to Sony when that agreement expires in 2026 or 2027, making Sony Music Entertainment the global distributor and owner of all Queen content.

Sony Music Publishing currently manages the catalog, and while this deal has a long term, all resulting income will now benefit Sony.

Additionally, Sony’s significant investment includes acquiring name and likeness rights, paving the way for potential Broadway shows and other brand monetization opportunities (Bohemian Rap-Soda, anyone?).

The only revenue not covered by this massive agreement will be from live performances, which will continue to be generated by the two surviving band members, Brian May and Roger Taylor.

Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.

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