One of the most-successful rock stars of the final 50 years, Bruce Springsteen has bought his grasp recordings and publishing rights for his life’s work to Sony for $500m (£376m).
According to a report by Billboard, the deal offers Sony possession of his 20 studio albums, together with classics like Born To Run, The River and Born In The USA.
Bruce Springsteen has received the Grammies, 20-times and his music generated about $15m in income alone simply final yr. Springsteen is likely one of the most profitable rock musicians of all time, and has recorded for Sony’s Columbia Records imprint during his profession.
In September, Warner Music purchased the worldwide rights to David Bowie’s whereas Bob Dylan bought his catalogue of greater than 600 songs in December final yr to Universal Music Group at a purchase order worth extensively reported as $300m.
The offers present instant monetary safety to the artists and their estates, whereas the rights-holders hope to revenue by constructing new income streams for the music by way of movie and TV licensing, merchandise, cowl variations and efficiency royalties.
Springsteen’s deal could be the most costly to date, if the numbers reported by Billboard are right.