Bruce Springsteen Sells His Master And Publishing For $500M
via Bruce Springsteen/YouTube
When we thought that Bob Dylan was the one to make the biggest deal for selling his music publishing rights, we were wrong. Just recently, Bruce Springsteen was reported to sell his entire catalog with Sony worth $500 million. — That huge amount tops Dylan’s deal with Universal Music Publishing Group that was estimated at more than $300 million.
Springsteen has been recording with Sony’s Columbia Records for his whole career. During the 1980’s to 90’s where his CD’s are selling out, he was given ownership of his albums as an incentive to stay with Columbia. But now, all his songs, including everything from his albums “The River” up to his latest one “Letter To You” is now owned by Sony.
Seems like, both young and old music artists are selling their songs to music labels and companies. — Some of them are Paul Simon, Stevie Nicks, Neil Young, and Red Hot Chili Peppers. Music artists not just in the rock scene have sold all or portions of song catalogs in recent deals as well.
Selling a music catalog can be involve with the ownership of the copyright of the songs, or recordings, or both and it is all paid separately. Once the songwriting rights are sold, the company now has the rights to collect money any time another musician covers any of those songs. They will also earn revenue for allowing the songs to be used in commercials and movies as well as when the songs are streamed online or being sold on CD’s.