(Washington) Rockstar Bruce Springsteen has sold his music rights to Sony in a deal valued at $ 500 million, reported Wednesday. New York Times and the specialized American weekly Billboard.
The transfer includes the star’s catalog of recorded music as well as his songwriter’s work, including global hits like the single Born in the USA, according to sources close to the matter cited by the two media.
No public announcement was made. A spokesperson for the Sony group declined to comment and Sony Music did not immediately respond to AFP’s requests.
Over 150 million records of the “Boss” have sold over the course of a half-century career, which has seen him remain loyal to the Columbia Records label, in the bosom of the Japanese multinational Sony.
Bruce Springsteen, 72, is the latest music star to sell his catalog, following in the footsteps of Bob Dylan, Stevie Nicks and Neil Young for some or all of their works.
The acquisitions of musical rights are booming, the financial markets showing themselves to be fond of these “portfolios” generating stable revenue streams, now favored as an asset class.
Last year, Bob Dylan sold his entire edition catalog for $ 300 million to the group Universal Music, while Stevie Nicks, singer of pop group Fleetwood Mac, sold a controlling stake in his catalog for $ 100 million. , according to press reports.