Bruce Springsteen sells his entire discography

  • The ‘Boss’ reaches an agreement with Sony, which acquires its entire musical catalog in exchange for about 500 million dollars

Bruce Springsteen has sold the rights to all his music to Sony Music Entertainment in what could be the largest transaction ever involving the work of a single artist, according to the New York Times. There has been no public announcement about the sale, which would have been closed in recent weeks. The details of the agreement are not known either, but, according to the sources, total price could exceed $ 500 million.

Representatives for the firm and the artist have not commented on the sale, which was initially published by Billboard. The transaction, which had been circulating rumors in music industry circles for weeks, would include both Springsteen’s recorded work and his work as a songwriter. With it, Sony would acquire ownership of the complete collection of classics from ‘The Boss’, such as ‘Born to Run’, ‘Born in the USA’ or ‘Blinded by the Light’.

It is the most recent and important macro-agreement in what have been a hectic couple of years, in which investors, large companies in the music industry and private firms – attracted by the increase in streaming and the promise of profits by growing music in the coming years- have spent hundreds of millions of dollars buying the catalogs of various artists. Bob Dylan, Paul Simon, Stevie Nicks, Shakira, Neil Young and many other stars have sold their work for prices that have reached the hundreds of millions. Dylan’s deal with Universal last year, which only included his work as a songwriter, was estimated at over $ 300 million.

Related news

At a Sony investor meeting in May, Rob Stinger, Sony Music chief executive, said the company had spent fourteen billion euros on acquisitions in the previous six months, a period that included dealing with Simon and others with companies. whole, like AWAL, which provides services to independent artists.

Springsteen, 72, has been associated with Columbia Records, which is part of Sony Music, for the entirety of his music career, spanning five decades, always controlling the rights to his recordings. He also owns the copyright to his compositions and basically acts as his own music label, although since 2017 his work as a songwriter has been managed by Universal.

Reference-www.elperiodico.com

Leave a Comment