Bruce Springsteen (Instagram Photo / Bruce Springsteen)
American singer Bruce Springsteen has sold his catalog of songs to Sony Music, in what may be the biggest deal ever made for a lone artist’s body of work. No public announcement has yet been made about the deal, which has been closed in recent weeks, and specific terms were not known. But it could be worth more than half a billion dollars, according to two people who anonymously reported that they were not allowed to discuss the matter. News of the sale was first reported by Billboard.
The deal, which has been gossiped about in music industry circles for weeks, includes both Springsteen’s recorded music catalog and the lyrics of the songs. This will give Sony ownership of Spingstein’s full collection, which includes classics like “Born to Run,” “Born in the USA.” And “Blinded by the Light.”
This is the last and largest business in the last two years that has emerged in investors, large music companies and private capital companies – who have purchased catalogs of songs from various artists to ensure their income from music for years to come, and have invested billions of dollars.
More in-
Bob Dylan, Paul Simon, Shakira, Neil Young and many other singers have already sold all or part of their work at prices that have reached hundreds of millions. Dylan’s deal, with Universal Music Publishing Group last year, was just for the lyrics of his songs and was valued at well over $ 300 million.
At Sony’s investor relations meeting last May, Sony Music CEO Rob Stringer said the company had spent $ 1.4 billion on acquisitions in the past six months, a period that included the Simon deal and others for entire companies like AWAL, which provides services to independent artists. 72, has been with Columbia Records, owned by Sony Music, for the course of his entire five-decade career.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment