For $500 million (£376 million), Bruce Springsteen has sold the master recordings and publication rights for his life’s work to Sony.
According to several US publications, the transaction gives Sony ownership of his 20 studio albums, which include hits like “Born to Run,” “The River,” and “Born In The USA.”
Springsteen’s music brought in roughly $15 million in revenue last year, making him a 20-time Grammy winner.
In September, Warner Work acquired the international rights to Bowie’s music, while in December of last year, Dylan sold his entire repertoire of over 600 songs to Universal Music Group for a reputed $300 million.
At an investor relations meeting in May, Sony Music’s CEO claimed to an investor relations meeting that the firm had spent $1.4 billion on acquisitions in the preceding six months. This includes a multi-million dollar purchase to acquire Paul Simon’s back library.
Springsteen is one of the most successful rock performers of all time, and he has spent his whole career recording for Sony’s Columbia Records division.
He was born and raised in New Jersey, and he once stated that he wanted to make an album with words like Bob Dylan’s, produced by Phil Spector, and sung by Roy Orbison.
In 1974, music critic Jon Landau reviewed one of his gigs with The E Street Band in Boston, cementing his fame. Springsteen’s commercial breakthrough came the following year, with the release of the successful album Born To Run, which was preceded by the ambitious, wall-of-sound title track.
It was met with acclaim, selling nine million copies and giving Springsteen the uncommon distinction of being featured on the covers of Time and Newsweek magazines in the same week.
Born In The USA, released in 1985, was his biggest hit, selling 15 million copies in the United States and 30 million internationally.
The 72-year-old recently wrote his autobiography, also titled Born To Run, and performed a series of intimate one-man Broadway plays reflecting on his life and career. He published his most recent album, Letter To You, in 2020, and he made rare cameo appearances on tracks by The Killers and Bleachers this year.