In what may be the largest deal ever inked for a single musician’s body of work, Bruce Springsteen has reportedly sold his publishing catalog to Sony for $500 million.
According to Billboard, The Boss has sold his masters to Sony Music — parent company of Columbia Records, where Springsteen has released his music since his debut “Greetings From Asbury Park, N.J.” in 1973 — and his publishing to Sony Music Publishing.
Springsteen, 72, is not the first major artist to land such a deal, even in recent years. Legacy artists like Bob Dylan, Paul Simon and Stevie Nicks have made similar agreements. Some deals were made after the COVID-19 pandemic halted live music, where many artists earn the bulk of their income.
According to Rolling Stone, incentives for artists to sell their masters include historically low interest rates and the aging musicians desiring to see the deals done while they’re still alive.
Also, new investment groups like Merck Mercuriadis’ Hipgnosis and Irving Azoff’s Iconic Artists Group have shown huge interest in buying song catalogs.
Springsteen has sold more than 65 million albums in the U.S., making him one of the best-selling American rock stars of all time.