Bruce Springsteen is one of the most successful rock musicians of all time and has recorded for Sony’s Columbia Records imprint for the duration of his career. In the last days, Bruce Springsteen has sold his entire music catalog to Sony Music Group for the record $500M.

According to anonymous source, the deal wasn’t disclosed but the transaction is worth 550 million of dollars, in this case is a record-breaking deal for a single artist. Only in the last year, a 20-time Grammy winner, Springsteen’s music generated about $15M in revenue.

Sony Music Group said that the deal provides two different agreements: one for his master recordings and one for his publishing rights.

Springsteen’s deal, will give to Sony the propriety of all income from classics like “Born to Run”, “Born in the U.S.A”, “Thunder Road” and many more. This is the most important deal of the music industry from a couple of years until today where investors, music company and private equity spent billion of dollars in music catalogs.

Bob Dylan, Paul Simon, Stevie Nicks, Shakira, Neil Young and many more stars sold all or a part of their catalogs. In the last year, Bob Dylan sold his catalog of 600 songs to Universal Music Group at a price of $300M.

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