Catalog is one of the most lucrative deals
Bruce Springsteen has sold his masters and publishing to Sony Music. Billboard reports the deal is worth $500 million, which is one of the biggest deals of all time. Springsteen was initially seeking $350 as he shopped his catalog earlier this year.
Prior to the sale, Universal Music had been administering his catalog.
Springsteen’s albums have collectively sold 65.5 million copies in the US alone, raking in $15 million in 2020, for an estimation of $145-190 million. His publishing brings in about $7.5 million per year, which is estimated to be worth $185-225 million.
The “Glory Days” singer/songwriter is the latest in a growing number of legacy artists who are selling their catalog and/or publishing. Last month, BMG acquired the 40 year catalog of Mötley Crüe, which is valued at approximately $150 million, and is the largest deal in the label’s history.
Bob Dylan, Neil Young, David Crosby, The Beach Boys, four of the five members of Fleetwood Mac, and others, are among the classic artists who’ve sold portions or all of their catalog over the past year.
