Bruce Springsteen In Talks to Sell Recorded Music Catalog to Sony Music
Sources say Springsteen is also shopping his publishing catalog, with all his rights estimated to be worth between $330 million and $415 million.
When music sales last boomed in the 1980s and 1990s, with many fans snapping up CD versions of the albums they already owned on cassette and vinyl, record companies quietly offered a rare concession to some of their top-selling ’70s and '80s stars in order to re-sign them: they granted the artists ownership of their earlier albums. Now, as streaming fuels another boom, the major labels are paying handsomely to get those classic albums back.
The latest such in-the-works purchase is Sony’s negotiations to acquire Bruce Springsteen’s album catalog, sources say. While it is unknown what the asking price is for Sony to acquire complete ownership of his masters -- which could mean no longer paying royalties to Springsteen depending on how the deal is structured -- Billboard estimates that the albums carry a valuation of between $145 million and $190 million.
Sources say Springsteen is also shopping his publishing catalog, with some of those sources adding that the Springsteen camp had been looking for upwards of $350 million for both the publishing and recorded masters catalogs.