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Bruce Springsteen sold his music for $500 million

Bruce Springsteen sold the rights to his music in a $500 million deal

Bruce Springsteen performs in New York on Nov. 4, 2019.
Bruce Springsteen performs at the 13th annual Stand Up For Heroes benefit concert in support of the Bob Woodruff Foundation in New York on Nov. 4, 2019. Springsteen, 72, sold his music rights to Sony Music Entertainment, making history for the biggest deal ever struck for an artist’s music catalog, according to Billboard.
Greg Allen, Invision via Associated Press

Bruce Springsteen, 72, sold his music rights to Sony Music Entertainment, making history for the biggest deal ever struck for an artist’s music catalog, according to Billboard.

  • The body of work sold includes Springsteen’s records music catalog and his work as a songwriter, valued at more than $500 million, per the report.
  • This deal will give Sony full ownership of hit songs such as “Born to Run” and “Born in the U.S.A.”
  • Per the report, a public announcement hasn’t been made yet.

Springsteen has been with Columbia Records his entire career, selling more than 65 million albums in the U.S., which makes him one of the bestselling American rock stars.

His last concert tour, “The River,” a 35th-anniversary tour from 2016 to 2017, grossed $306 million at the box office.

With the recent rise in interest to buy song catalogs as streaming services become more popular, investors — like Merck Mercuriadis’ Hipgnosis and Irving Azoff’s Iconic Artists Group — and music companies have been more than willing to front the money, according to CNBC News.

  • Artists like Bob Dylan and Shakira, both have sold parts of their work, profiting thousands of dollars, the report added. In September, Warner Music bought the worldwide rights to David Bowie’s catalog.