Inspiring - meaningful messages
An inspiring movie for 11+ year-old kids, with two meaningful themes: good thoughts, good words, good deeds will redeem a person, even at an absolute nadir of their life, and loyalty to family is important, be it one's biological family or a close group like a band.
Freddie Mercury is a gay icon - one of the very few major-league entertainers to get even slightly close to an authentic life before about the year 2000. Because of that, there are suggestions (and only relatively mild ones) about his life as a gay man in the film: two somewhat chaste kisses, a club scene where you see guys in leather, a guy in underwear on a couch waking up after what we assume was an overnighter, a few meaningful glances, and one pat on the bum that was immediately rebuffed by the person being patted.
The party scenes are also often only suggestions: a house with dozens of dirty glasses and empty beer bottles and a dusty table top (suggesting cocaine, but so subtle it took a while for it to register - no kid on the planet would be likely to pick up on it). Nothing more appalling than the aftermath of most college parties, frankly. There's quite a bit of cigarette smoking which is unfortunate, but typical for the era. You'll need to explain that to your kids.
The last few scenes where we witness Freddie succumbing to AIDS may be hard for sensitive kids, but his triumph at LiveAid mitigates that, as does his reunion with family and band.
Other than that, though, the messages are strong: family is the most important thing, whether that family is biological or a team/band; and living an authentic life while being mindful of good thoughts and deeds will redeem a person no matter where they are in life.