The top 10’s total take $2.3 billion.
The reasons for and ramifications behind these catalog deals have been expounded upon by Variety and many others in the past couple of years, and the gold rush has to end sometime. But as the long-anticipated announcement on Jan. 3 of a $250 million-plus deal for David Bowie’s publishing catalog shows, it’s not here yet.
1. Bruce Springsteen: $550 million
2. Jay-Z: $470 million
3. Paul Simon: $260 million
4. Kanye West: $250 million
5. Ryan Tedder: $200 million
6. Red Hot Chili Peppers: $145 million
7. Lindsey Buckingham: $100 million
8. Motley Crue: $95 million
9. Blake Shelton: $83 million
10. Taylor Swift: $80 million
Bruce Springsteen gives a ringing endorsement of the label that his been his home since he was signed to Columbia by John Hammond (attracted in no small part by the red label he knew well from Bob Dylan records), and he sounds more than comfortable with the future caretaking of his life's work.
"I am one artist who can truly say that when I signed with Columbia Records in 1972, I came to the right place," Springsteen says.
"During the last 50 years, the men and women of Sony Music have treated me with the greatest respect as an artist and as a person. I'm thrilled that my legacy will continue to be cared for by the Company and people I know and trust."
Springsteen's recording career with Columbia Records spans nearly 50 years and continues to this day, beginning with his signing in 1972 and his 1973 debut album Greetings from Asbury Park, N.J. Last year, he released Letter to You, his 20th studio album on Columbia.
According to a raft of industry sources and emerging reports by both The New York Times and Billboard, ‘The Boss’ has finalized the paperwork on a $500 million rights sale to Sony.
The sale will give Sony ownership of the rock music legend's entire catalog, including 15-times platinum album 'Born In The U.S.A' and five-times platinum 'The River,' Billboard reported.
Springsteen's catalog includes the 15-times platinum album 'Born In The U.S.A' and five-times platinum 'The river'
While the album catalog deal is nearly done, some sources say, the publishing catalog remains in play. The news was first reported by Billboard, as Variety reports
While Springsteen has been with Sony Music’s Columbia Records since he first signed with the label in 1972, he acquired the rights to his music as part of a contract renegotiation at some point in his career; such moves are rarely reported but become evident in the fine print on a release.
Selling the rights to their music is anathema to many artists, but as they reach or pass standard retirement age and begin estate planning, a sale is an attractive option — especially today, as song catalogs are hitting previously unimagined valuations and artists consider the realities of leaving their heirs with a valuable but cumbersome asset; song catalogs in particular require extensive management to optimize their value.
Springsteen First Artist to Top Billboard Charts in Six Consecutive DecadesWith Letter to You, Springsteen has now released a new album that charted in the Top 5 in in every decade since the 1970s
Springsteen has made Billboard chart history with his latest album, Letter to You. With 96,000 equivalent album units earned in the U.S., the album has debuted at No. 2 on this week’s chart, making Springsteen the first artist to release a new Top 5 album in six consecutive decades. (His first Top 5 album was Born to Run, which landed at No. 3 in 1975.) Check out the full story at Billboard. (Pitchfork)
Earlier this year, Bob Dylan set a similar record with Rough and Rowdy Ways: He became the first artist to have a Billboard Top 40 album in each decade since the 1960s.
Springsteen logged two top five sets in the 1970s (Born to Run, No. 3 in 1975 and Darkness on the Edge of Town, No. 5 in 1978), five in the ‘80s (The River, No. 1 in 1980; Nebraska, No. 3 in 1982; Born in the U.S.A., No. 1 in 1984; the live album Bruce Springsteen & The E Street Band 1975-1985, No. 1 in 1986; and Tunnel of Love, No. 1 in 1987), three in the 1990s (Human Touch, No. 2 in 1992; Lucky Town, No. 3 in 1992; and Greatest Hits, No. 1 in 1995), six in the ‘00s (Live in New York City, No. 5 in 2001; The Rising, No. 1 in 2002; Devils & Dust, No. 1 in 2005; We Shall Overcome: The Seeger Sessions, No. 3 in 2006; Magic, No. 1 in 2007; and Working On a Dream, No. 1 in 2009), four in the ‘10s (Wrecking Ball, No. 1 in 2012; High Hopes, No. 1 in 2014; Chapter and Verse, No. 5 in 2016; and Western Stars, No. 2 in 2019) and now one in the ‘20s (Letter to You, No. 2 in 2020).
Letter to You sold well on vinyl, with 18,000 of its sales coming from the format -- the second-largest sales week for a vinyl album in 2020 (trailing only the debut week of Tame Impala’s The Slow Rush, with 26,000 sold; chart dated Feb. 29). Letter to You was also a hot seller with independent record stores, as it moved 16,000 of its total 92,000 via indie stores.
The film does more than simply capture a veteran band making a hard job look easy. It also gives Springsteen a chance to expand upon and espouse the thoughts on legacy, time, and the creative process that animate the new record’s material.
Spanning 12 tracks and almost one hour running time, Letter to You includes nine works written recently by Springsteen for the E Street Band, plus new versions of previously-unreleased compositions from the 1970s, “Janey Needs a Shooter,” “If I Was the Priest,” and “Song for Orphans.” (Billboard.com)
