Baby, he was born to (take the money and) run.
Bruce Springsteen reportedly sold his iconic song and publishing catalog to Sony Music – for a whopping figure in the ballpark of $500 million, reports said.
The deal was first reported by Billboard and would represent one of the most lucrative music catalog deals in industry history – surpassing Bob Dylan’s blockbuster sale of his work to Universal Music Group for around $400 million.
Sources told Variety that Springsteen’s sale is a “done” deal and the New York Times reported the agreement was struck in recent weeks.
The 72-year-old signed in 1972 with Sony subsidiary Columbia Records, and he has owned the rights to his music since sometime in the 1990s, according to Variety.
Under the new deal, Sony acquired the Boss’ entire collection, including mega-popular albums “Born to Run” and “Born in the U.S.A.”
No public announcement has been made regarding the sale.
In 2020, Springsteen’s album catalog netted about $15 million in revenue, according to Billboard. His publishing catalogs rakes in roughly $7.5 million a year.
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