Bruce Springsteen sells catalog to Sony Music

[Axeman33]

https://twitter.com/NYDailyNews/stat...81753294577669

Bruce Springsteen has reportedly sold his music catalog to Sony Music Entertainment for $500 million.
@springsteen

Given low interest rates and the instability of touring during the pandemic, a number of musicians have sold their catalogs recently, including Paul Simon, Bob Dylan, Neil Young and Stevie Nicks.

You'd think a lot of these older musicians would have saved a dollar or two over the years and wouldn't need to sell their catalogs. Good luck spending your $500M in your lifetime Bruce! (he's 72 in case you're wondering).

[2014olympicgold]

If you die with the songs, I wonder what the rules around if his kids could have sold his songs to Sony when Bruce is dead...if they could I wonder if Bruce decided to do it so he could enjoy the money while he's alive,

[Feenom]

The Boss still has some Glory Days ahead of him with that amount of loot.

[Axeman33]

The publishing rights/royalties to music is really where the money is, and that's primarily what he's selling as much as anything.

[senryu]

Sony has to have raked in tons of money from owning the Beatles songs. Springsteen should create a company in which he owns all the ownership interest, sell the songs to the company, and then pass ownership of the company to his kids upon his death. (NOTE, this is all guessing and I don't know what the law is)

[Rylant]

It's interesting for sure. I know that musicians don't make the same kind of money off of Spotify or iTunes plays as they did when they sold physical albums. I know other artists are considering the same kind of thing.

Rylant

[stevegamer]

This is a no-brainer, it is literally half a BILLION dollars. That is enough to set up an entire family for multi-generational wealth if not perpetuity.

[Axeman33]

This is a no-brainer, it is literally half a BILLION dollars. That is enough to set up an entire family for multi-generational wealth if not perpetuity.

I dont disagree, but it's kind of like a pay me now, or keep paying me down the road. His family was setup no matter which way they go. At least this way there's certainty I guess. Every time his song gets played on a streaming service, movie, tv show, etc, he gets paid for that. It's the way royalties work. He just gave up those royalties. Basically, he can still earn money doing concerts if he wants to but at this point, why bother. Artists will keep performing as long as people will keep coming out to see them. I dont think Bruce would have any issues still selling out stadiums and arenas if he wants to tour.

[lucafen4]

he's also made a shit-tonne of money off his memoirs & Broadway play which is on Netflix (amazing by the way).

Bob Dylan sold the rights to his catalogue to Universal Dec 7, 2020 for $300 or $400M

At his age & Springsteen's the amount of money they would make in royalties before they die vs. that lump sum (and interest) is probably a sizable difference.

pretty sure both consulted lawyers & accountants before making those decisions.

[Wotan]

...he's probably still humming the tune of "Pay me my money down"...