Glory Days for Bruce Springsteen with song catalog sale to Sony (updated)
17/12/2021 24:07
(Updates with Sony and Springsteen statements)
By Jill Serjeant
LOS ANGELES, Dec 15 (Reuters) - Multiple Grammy winner Bruce
Springsteen has sold his entire catalog to Sony Music 6785.T
in a deal that Billboard said was worth about $500 million.
Sony Music and the "Born to Run" musician announced the deal
on Thursday, saying it covers the recorded music and music
publishing rights to all of Springsteen's songs.
Sony and the New Jersey rocker gave no value for the deal
but Billboard said it was worth about $500 million - more than
the reported $300 million Bob Dylan earned in a similar deal
last year with Universal Music Group. urn:newsml:reuters.com:*:nL1N2LT3U3
The sale gives Sony ownership of Springsteen songs that have
become rock classics, including "Dancing in the Dark," "Glory
Days," "Born in the USA" and "Thunder Road."
It is the latest in a string of catalog deals that have seen
older musicians including Paul Simon, Stevie Nicks and Neil
Young reap the benefits of their catalogs towards the end of
their careers.
Sony has a 50 year relationship with Springsteen, now 72,
through its Columbia record label.
"I am one artist who can truly say that when I signed with
Columbia Records in 1972, I came to the right place," the
musician said in a statement.
"I’m thrilled that my legacy will continue to be cared for
by the company and people I know and trust," he added.
Springsteen, who has 20 Grammy Awards, is one of the most
respected and decorated musicians in the United States. Many of
his early songs reflect the struggles of working class life,
mixing social and political themes with poetic lyrics.
He won a Tony Award for his sold out one man Broadway show
""Springsteen on Broadway" and an Oscar for his song "Streets of
Philadelphia" from the 1993 movie "Philadelphia."
(Additional reporting by Rhea Binoy in Bengaluru; Editing by
Tom Hogue & Shri Navaratnam)
((Rhea.Binoy@thomsonreuters.com;))