According to news sources, Bruce Springsteen has sold his entire publishing rights and master recordings for his life work to Sony for an estimated amount of $500 million.
The deal with the Sony ownership for his 20 albums was signed duly that includes classics such as Born to Run, The River, and Born in the USA, according to multiple U.S. reports.
Bruce Springsteen, a 20-time Grammy winner, has generated a total of $15 million in revenue in the last year. Moreover, his deal also follows similar sales with Bob Dylan, David Bowie, and Blondie.
In addition, Warner Music also bought worldwide rights to the music in September, and Dylan also sold his catalog which comprised of more than 600 songs in December 2020 to Universal Music Group at the purchase price widely which was reported as $300 million.
The deals also provide immediate financial security to the estates and artists, while rights-holders hope for profit through building new revenue streams for their music via movie and TV licensing, along with performance royalties.
“Last Thursday, at the Harvard Square theatre, I saw rock’n’roll past flash before my eyes,” Landau wrote. “And I saw something else: I saw rock and roll future and its name is Bruce Springsteen. And on a night when I needed to feel young, he made me feel like I was hearing music for the very first time.”
Bruce Springsteen was one of the most successful rock musicians of the time and recorded a brilliant of hits for Sony’s Columbia Records which remarkably imprints the duration of his career.
The singer’s reputation was mainly cemented in the year 1974 when music critic Jon Landau reviewed the shows with The E Street Band in Boston.
He is one of the hardest entertainers for the show business. He also built a fearsome reputation for his concerts and somewhat unexpectedly became the breakout star for the MTV generation for the songs such as Hungry Heart and Dancing in the Dark on heavy rotation alongside hits by Madonna, Michael Jackson, and Prince.