From small things, mama, big things one day come.
Bruce Springsteen has reportedly sold the rights all his publishing, plus his master recordings, to Sony Music for $500 million.
It may be the most money ever for a solo act, although I’d wager that Paul McCartney could top that. Still, half a billion dollars is breathtaking. It’s about $200 million more than Bob Dylan got, for example. And no one else would be closer.
You know what that means. Everything from “Born to Run” to “Dancing in the Dark,” “Blinded by the Light,” “Fire,” the first two albums, plus “Darkness on the Edge of Town,” “Hungry Heart,” and so on. Not to mention “Born in the USA.” It’s the kit-and-kaboodle. The story broke in the trade paper, Billboard.
The deal makes Springsteen’s family financially independent forever. I’ve no doubt that the members of the E Street Band will be appropriately taken care of, as always. So will Bruce’s longtime managers. It’s the deal of a lifetime.
Springsteen’s music will be repurposed by Sony in every manner possible, from other artists covering his songs, to commercials like crazy. Get ready for “Glory Days” to be used for everything from Walmart to stain remover to hot dogs.
The sale is a bit of a blow to EMI Music Publishing, which has published Springsteen’s songs for decades. But this deal with Sony also includes the records, and Sony had the upper hand there since Bruce’s entire recording catalog is already there. He’s the rare bird who’s not made records for any other company in his nearly 50 year career. (EMI will be just fine, mind you.)
Now Bruce can have all the free Sony music equipment he wants, I guess.
More details coming…