There might not have been a harder working performer in music history than Bruce Springsteen. He pours his heart and soul into a freaking soundcheck, and he must burn 10,000 calories and sweat four gallons in every performance he’s done the last 40+ years.
The hard work has paid off for “the Boss” in a huge way. Springsteen sold his music right to Sony Music Entertainment, and some experts call it the biggest transaction ever for a solo artist’s body of work.
The New York Times reported that the value might be more than $500 million. Half a billion dollars for hundreds of songs Springsteen has written, recorded, and performed over the years.
The deal will reportedly include his recorded music catalog and every song he ever wrote, which means when this deal is done, Sony will be the proud owner of “Born in the U.S.A.,” “Born to Run,” and “Glory Days.”
This is part of a new trend where private equity firms and big music labels are buying up the song catalogs of big stars. Paul Simon, Stevie Nicks, Neil Young, and Bobecent months Dylan have all cashed in in r. Dylan’s deal with Universal was believed to be north of $300 million.
Sony Music has been writing fat checks for most of 2021. CEO Rob Stringer told investors his company had spent $1.4 billion buying music licenses in the past six months alone.
Springsteen has recorded his songs with Columbia Records, which is owned by Sony Music, and The Boss has been strategic about making sure he’s held on t the rights of his recordings.