Springsteen’s $ 500 million salary
BANG Showbiz – Dec 17 2021 / 7h28 | History: 354879
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Bruce Springsteen sold his entire music catalog to Sony for $ 500 million.
The 72-year-old star – who is one of the world’s best-selling artists – sold his masters and music publishing rights to Sony Music in a highly profitable deal.
The deal will see Sony assume ownership of Springsteen’s entire catalog, which includes their hit album “Born in the USA,” reports Billboard.
The two sides have reached an agreement in recent weeks, but further details on the contract remain unknown at this time.
Sony has also decided not to make a public announcement on the deal.
Over the past 12 months, a slew of top musical artists have decided to sell their old catalogs including Bob Dylan, Paul Simon, Stevie Nicks, Neil Young and now, Spingsteen.
In December of last year, Dylan sold his old catalog of over 600 songs to Universal Music Group.
Universal reportedly paid $ 300 million for the rights, and the company hailed the move at the time as “the most important music publishing deal of this century.”
Jody Gerson, CEO of the publishing house, said: “To portray the work of one of the greatest songwriters of all time – whose cultural significance cannot be overstated – is both a privilege and a responsibility.
“The Universal Music Publishing Group global team is honored to be Bob Dylan’s publishing partner and I especially want to thank [chief operating officer] Marc Cimino whose passion and perseverance were decisive in giving us this opportunity.
“We look forward to working with Bob and the team to ensure his artistry continues to reach and inspire generations of fans, artists and songwriters around the world.”