Yahoo News Bruce Springsteen reportedly selling back catalogue to Sony in deal worth $415m
Bruce Springsteen is reportedly in talks to sell his entire back catalogue to Sony.
As reported in Billboard, the rights to Springsteen’s music is estimated to be worth between $330 and $415m (£230 and £303m) and sources have said the musician is now in talks to sell the rights.
The actual amount may be higher depending on how the deal is structured. Mirroring similar sales of record rights recently, the label may no longer pay royalties to the musician and instead offer a one-off, lump sum.
Back in the late Nineties, Springsteen was one of several musicians (including Neil Diamond, Bob Dylan and Pink Floyd) who all won ownership of their recorded masters back after long negotiations with their label.
According to the Recording Industry Association of America, Springsteen has sold 66.5m albums in the US alone, making his catalogue one of the most lucrative to own.
According to Billboard, Springsteen is also exploring other possible homes for both his publishing and recorded masters catalogues. The Independent has contacted representatives for Springsteen and Sony for comment.
Last month (22 October), Springsteen admitted he thought former US President Barack Obama had the wrong number when he asked him to team up for a podcast.
Renegades: Born in the USA, was an eight part podcast that premiered on Spotify in February and features the two discussing life, music and America.
During an interview on CBS Sunday Morning, Springsteen confessed to being shocked at being asked to make the podcast: “I initially thought that he had gotten a wrong number when he called me. And I answered. I said, ‘OK, let me figure this out. I am a guitar-playing high school graduate from Freehold, New Jersey. And you want me to do what?’”
During the interview, Obama also described the legendary rocker as “surprisingly shy considering he goes out there and sings before tens of thousands of people for hours at a time”.
The former president said the idea for the show came from sitting and talking with Springsteen, who has been a friend for over a decade: “We just ended up being in settings where we’d have these long conversations. ‘What does it mean to be a man? What does it mean to be an American?’”
A book of the same title as the podcast was released on 26 October and features never before seen archive material from the two important figures in American politics and culture.
Reviewing the book, AP news said: “A person could spend hours pouring over the words alone ... Whether you’re a fan of The Boss and the 44th President of the United States or you’re just curious about two guys whose names carry clout, Renegades is worth experiencing firsthand.”
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