We’ll be the first to admit that Bruce Springsteen isn’t exactly an artist that The Pit would write about on most days. Though his soulful ballads about feeling lonely in New Jersey have inspired countless dive-bar singalongs, none of them are very metal (well, except for “Adam Raised A Cain,” that shit is full-on devilish). But there’s something incredibly metal about $500 million, which is how much the Boss has apparently just sold his entire catalog for.
According to Consequence of Sound, Bruce has sold his entire catalog and publishing rights thereof to his longtime label, Sony’s Columbia Records. This includes rights to 1975’s Born to Run (6x platinum in the US), 1978’s Darkness on the Edge of Town (3x platinum), 1980’s The River (5x platinum), and 1984’s massive Born In The USA (diamond — meaning 10,000 copies sold — and 15x platinum overall).
The Boss is one of the many artists who has recently accepted a massive cash payout for the rights to his music. Only a couple of weeks ago, hair metal legends Mötley Crüe announced that they were selling their entire music catalog to BMG for $150 million, which both the band and the company insisted was more of a partnership between artist and entity than a massive payout for the band.
“This is more than just a significant transaction,” says BMG CEO Hartwig Masuch. It’s a new chapter for an extraordinary catalog. Few bands understand the myth and the magic of rock like Mötley Crüe do. In an increasingly competitive rights acquisition market, artists need to be convinced that a buyer will do the right thing with their work. I am delighted that Mötley Crüe have decided BMG will be the best custodians of their musical career.”
David Crosby, who recently sold his entire catalog for somewhere between $100 and $200 million, was a little more forthright as to why these sudden buyouts are being considered (via Pollstar): “Given our current inability to work live, this deal is a blessing for me and my family.”
Words by Chris Krovatin