Sony Music Entertainment has reportedly signed a deal to become the exclusive North American purveyor of Beatles merchandise and memorabilia.
Terms of the deal were not released, but according to the Wall Street Journal, the company planned to send out invitations Wednesday (Dec. 4) for a pop-up store in New York City set to open next week, which will showcase Beatles-branded apparel, toys, turntables and a pinball machine.
Under the deal, Sony’s Thread Shop division will work alongside Apple Corps Ltd., the band’s London-based corporate entity, to expand the legendary group’s brand in the States. Target, Forever 21, FYE and Hot Topic are all slated to carry the new Beatles merch. Thread Shop will also operate the Beatles’ North American retail site. As the Journal points out, the deal is indicative of the growing importance placed on merchandise as a revenue source in the music industry as record sales continue to decline.
Thread Shop also handles the merchandise for artists like Shania Twain, Led Zeppelin, Pink and Sugarland. Prior to this new deal, the Beatles’ North American merchandise license was held since 2013 by Bravado, a subsidiary of Vivendi SA’s Universal Music Group.
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