It’s been talked about for quite some time and now the record sale has arrived. Bruce Springsteen He sold the rights to his entire music catalog to Sony Music Publishing for more than half a million dollars, surpassing his fellow Bob DylanLast year, it made $400 million from Universal Music for its music production.
Bruce Springsteen Catalog
The sale, which is official today, includes not only the catalog of 300 songs recorded by The Boss, but also his work as an author, with classics such as Born in the United StatesAnd dancing in the dark e the river. Negotiations with Sony over the artist’s great classics fell off, before an agreement was reached on the figure that, according to Billboard and the New York Times sources, would exceed one million dollars.
With the help of longtime manager John Landau, Springsteen, 72, is not only a rock legend but also a skilled entrepreneur who has sold more than 65 million albums in the US alone in the past half century, while his massive song catalog annually produces thousands of covers . According to Variety, the Boss album catalog in 2020 brought in $15 million in revenue plus 7.5 million per year for catalog publishing. Tour receipts in the stratosphere, before Covid banned travel: 840 million between 2010 and 2019, were just one decade in a nearly 60-year career. Selling his entire catalog to Sony is part of his prudent management of his business.
Artists who sold their music rights
Once upon a time, very few artists agreed to give up their music rights. But last year, thanks to the pandemic that forced singers to ban concerts and tours, the trend changed and based on an example Bob Dylan Also Bruce Springsteen Make concessions. “Time is running out. I have to think about my children,” he explained. Neil Young When news broke that he also struck the deal by selling 50% of his catalog for 150 million to British group Hipgnosis on the condition that none of his songs would be used in advertising.
in my footsteps Nobel Prize for Literature, last May Paul Simon Sold the rights to 60 years of songs to Sony Tina Turner and Mick Fleetwood Fleetwood Macs switched to BMG. Even the queen of the country Dolly Parton Thinking of selling, while in September the global music rights agreement David Bowie Between the heirs of the White Duke and Warner Music. For the world of music, the wind is changing and many, like Bruce, have understood what it takes to stay afloat.
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