As Billboard reports, Bruce Springsteen decided to sell his publishing catalog to Sony for a reported $500 million.
Sony Music was able to buy Springsteen’s masters to his music, and Sony Music Publishing was able to buy his publishing in a combination deal. Sony declined to comment on the business deal.
Springsteen has been with Sony since the start of his career. According to the RIAA, his album catalog has sold 65.5 million in the U.S., including his 15-time platinum ‘Born In The U.S.A.’ and 5-times platinum ‘The River,’ said Rollingstone.
Bob Dylan, Paul Simon, Stevie Nicks, Lindsey Buckingham, Mick Fleetwood, Shakira, Jimmy Lovine, and David Crosby have sold their publishing rights.
The pandemic put the music business on a complete halt. Most artists fell into financial problems with their primary income being shut off. In Springsteen’s case, he’s probably in a much better situation than most.