Bruce Springsteen Sells His Entire Catalog To Sony For $500 Million

Bruce Springsteen Sells His Entire Catalog To Sony For $500 Million

Bruce Springsteen has enjoyed five decades of career in the music industry and has released some of his albums through the Sony imprint, Columbia Records. In the late 1980s and 1990s, he was granted the ownership of his earlier records as a reward to have him re-sign with the label. There were already reports about the deal between Sony Music and Springsteen since last month, and it was finalized this week. Although the deal pushed through, Springsteen reportedly shopped around to sell his master’s catalog.

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Billboard reported that his entire collection was under Universal Music Publishing Group. The deal between Springsteen and Sony Music happened just a year after Universal Music Publishing Group has purchased the extensive publishing catalog of Bob Dylan for about $300 million. The previous year following the said deal, Taylor Swift also sold the publishing rights of her first six albums to Universal Music Publishing Group in 2019 for about $300 million as well. This is not new to artists since several artists had made the same arrangements in the previous years, including Paul Simon, Stevie Nicks, and a lot more. Rolling Stones added that some artists had sold their masters in a desire to see the deal done while they were still alive.

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The most recent studio album that Springsteen released was titled Letter to You, which came out last October 2020. He also reissued The Legendary 1979 No Nukes Concerts last November 2021. The decision was reportedly influenced by the pandemic because it stopped live music, which is where a lot of artists earn the bulk of their income. The last concert Springsteen did was titled The River, which was his 35th-anniversary tour that took place from 2016-2017 and has grossed a total of $306 million. Although this was Springsteen’s last concert, he also raked in millions from his Broadway run from 2017 to 2018, which earned him about $116 million.

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Sources: NJ, Rolling Stone, LA Times

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