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Half a billion dollars. According to American media, this is what rock legend Bruce Springsteen will collect for the sale of the rights to all of his work to the multinational Sony.
With our correspondent in Washington, Guillaume Naudin
Bruce Springsteen, more than 50 years of rock’n’roll still at Columbia, a label that belongs to Sony; more than 120 million albums sold worldwide; more than 300 songs for him and for others; and therefore now $ 500 million in cash.
It’s the biggest contract of its kind, but it’s not the first. Bob Dylan and Neil Young have already signed similar transactions. This is because with the explosion of streaming, the value of catalogs is on the rise and broadcasters see it as a safe bet.
With the Covid-19 pandemic, concerts, an important source of income for artists, have been reduced to heartache. And then, it must be said: in the United States, copyright is taxed more than asset sales, but the tax rate could increase in the coming months. It is the project of the Democrats, of which the singer is nevertheless a faithful support.
Neither the entourage of the star, nor Sony have commented on the information and it is therefore not known whether or not the contract allows the use of advertising versions of the biggest hits to sell cars or sandwiches.
Early in his career, Bruce Springsteen was nicknamed “the boss” because he was very directive and paid his musicians directly at the end of concerts. At the end of his career, he pays for himself. But at 72, it is not abnormal to prepare for the sequel.
►One hit, one story: “Born in the USA”, by Bruce Springsteen (Culture Rendezvous)
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