Rocker Bruce Springsteen has sold the masters of his entire catalogue to Sony Music in a deal worth about $500 million, reported Billboard. This would include more than 300 songs, 20 studio albums, 23 live LPs, seven EPs and more.
For Springsteen’s five decade-long career, he has released music through Columbia Records, a subsidiary of Sony Music. He was granted ownership of his earlier records in the late 1980s and 1990s as incentive to resigning with the label.
Scroll through our gallery above to see Bruce Springsteen over the years.
The deal would give Sony ownership of Springsteen’s complete collection of classic songs such as Born to Run, Born in the USA and Blinded by the Light as well as his body of work as a songwriter.
No public announcement has been made about the transaction, which reportedly closed in recent weeks, and specific terms were unknown.
In December, Bob Dylan sold his entire songwriting catalogue to Universal Music in a landmark deal estimated at more than $300m.
“It’s no secret that the art of songwriting is the fundamental key to all great music, nor is it a secret that Bob is one of the very greatest practitioners of that art,” said Lucian Grainge, chief executive of the Universal Music Group.
Jody Gerson, chief executive of Universal Music Publishing Group, said: "To represent the body of work of one of the greatest songwriters of all time – whose cultural importance can't be overstated – is both a privilege and a responsibility."
In 1997, David Bowie came up with "Bowie Bonds" through which he struck a licensing deal with EMI for his back catalogue that included Ziggy Stardust, Aladdin Sane and Let's Dance, as well as unreleased studio and live recordings that turned into a $55m payday.
Soon after, other artists followed suit, such as James Brown, The Isley brothers, Iron Maiden and Rod Stewart.