Selling the rights to their music is unthinkable for many artists, but as they reach or pass the standard retirement age and begin estate planning, a sale is an attractive option, especially today, as song catalogs are reaching previously unimaginable valuations and artists consider the realities of leaving their heirs a valuable but cumbersome asset; Song catalogs, in particular, require extensive management to optimize their value.
Bob Dylan is the most notable and lucrative example of this situation: over the last few years, he donated his personal files to the creation of the Bob Dylan Center in Tulsa, Oklahoma, and last year sold its song catalog to Universal Music Publishing for a sum that, according to sources, was close to 400 million dollars.
That may also be the case for Springsteen, whose combined album and song catalogs are estimated to be worth between $ 330 million and $ 415 million, according to Billboard.
Springsteen, of course, is one of the most successful recording artists of the past 50 years, with $ 65.5 million in album sales in the US alone, according to the RIAA, and a vast catalog of songs that he generates. hundreds, if not thousands, of versions every year. Billboard estimated that Springsteen’s album catalog generated about $ 15 million in revenue in 2020, and that its publishing catalog generates about $ 7.5 million per year.
Over the decades, Springsteen and his manager of nearly 50 years, Jon LandauThey’ve been nothing more than smart businessmen: In addition to lucrative publishing deals and recorded music, Springsteen is one of the most profitable touring artists in history, having made more than $ 840 in earnings. million in touring dollars between 2010 and 2019, according to Pollstar. Additionally, the Springsteen team sells dozens of archival live recordings on its website, which it owns the rights to and bypasses record labels altogether.
However, it has apparently gone for a more lucrative option for its official song catalog and discography.
Source From: Ambito
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