Bruce Springsteen reportedly sells his music catalog for $ 500 million

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Bruce Springsteen reportedly sold his masters and publishing catalog for half a billion dollars.

Billboard reports that a combined deal allowed the “Born to Run” star to sell his masters to Sony Music and his editions to Sony Music Publishing. Rolling stone said neither Sony nor a representative for Springsteen commented or confirmed the sale.

Last December, Bob Dylan sold his song catalog for an estimated sum of over $ 300 million. Neil Young sold half of his edition for $ 150 million in January, and artists such as David Crosby, Stevie Nicks, Journey and Motley Crue have also made deals for their masters and / or publishing rights.

The COVID-19 pandemic has resulted in a dramatic reduction in touring revenue for musicians, and streaming media’s current dominance over physical media sales has put a similar pinch in their royalty payments. “I can’t work, and streaming stole my record money,” Crosby explained via Twitter. “I have a family and a mortgage and have to take care of it, so it’s my only option. I’m sure others feel the same.”

News of a potential deal with Springsteen, then valued at $ 415 million, was first announced in November. Its catalog is one of the most lucrative in rock music. He has sold over 65 million albums in the United States alone, including 15 million copies of 1984 Born in the United States

Both 2019 Western stars and 2020 Letter to you debuted and peaked at No. 2 on the Billboard 200, and its catalog has sold 2.25 million album equivalents since the start of 2018.

Bruce Springsteen Albums Ranked

Because he spent so much of his formative years painstakingly creating his albums, we don’t often think of Bruce Springsteen as a prolific artist.

Next: Why The Biggest Rock Stars Are Selling Their Publishing Rights



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