Bruce Springsteen became the last high profile musician to negotiate a major sale of their masters and their edition catalog for a huge sum.
Through Billboard, Springsteen also sold its masters and music publishing catalog to Sony Music and Sony Music Publishing, respectively, for $ 500 million.
Reports of a possible masters / publishing deal between The Boss and Sony surfaced last month. Billboard reported at the time that this transaction could earn up to $ 350 million in payday. However, the outlet’s latest report noted, “Sources tell ‘Billboard’ the floor to bid for the combined assets was $ 350 million, although that number was quickly exceeded.”
Over the past 12 months, a number of artists have sold their various catalogs as part of massive offers. In October, Tina Turner struck a major deal with Bertelsmann Music Group (BMG) to sell her recordings, publishing rights and other properties for more than $ 50 million. In August, Aerosmith struck a deal with Universal Music Group (UMG) which includes their entire music catalog and personal archive. In May, the Red Hot Chili Peppers sold their catalog to Hipgnosis Songs for between $ 140 million and $ 150 million. In December 2020, Bob Dylan sold his entire catalog of compositions to Universal Music Publishing Group for $ 300 million.
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Erica Banas is a classic rock / rock news blogger who knows the label well and is extraordinarily kind.