According to reports, famous New Jersey-born musician singer-songwriter Bruce Springsteen just sold his music catalog to Sony Music Entertainment for what could be up to $500 million.

The New York Times reports that the deal would be the largest ever transaction for a single artist’s catalog if Billboard’s initial report is correct. So far, representatives for Sony and Springsteen have not publicly commented on the reported sale, no one knows anything for certain.

According to Spotify, Springsteen’s has nearly 10 million monthly listeners, and his most streamed songs include “Dancing in the Dark,” “Born in the U.S.A.,” and “I’m On Fire,” all of which are from the same album “Born In The U.S.A.”

Sony would have the rights to these songs and all of Springsteen’s 20 other albums. The rights would allow them to make money off the use of the songs in movies and TV, including cover versions and performance royalties.

According to BBC, last year Springsteen’s music made $15 million in revenue. The sale would follow similar sales by artists like Bob Dylan and David Bowie and groups like Blondie to groups like Warner Music and Universal Music Group. The purchase of Springsteen’s music would top all these more recent sales of famous artists’ music and their back catalog of work.

Springsteen’s latest album, “Letter to You,” was released in October 2020. He also reopened Broadway in June with “Springsteen on Broadway” after COVID-19 halted Broadway productions for over a year. Former President Barack Obama and Springsteen also released a podcast called Renegades, Born in the USA, the last of which was released from February until April 2021.

Outside of the most recent purchase, Springsteen’s net worth reportedly sits around $500 million, half a billion dollars, while he makes tens of millions a year, up to $80 million by some reports.

Bruce Springsteen was arrested on charges of driving while intoxicated Photo: GETTY IMAGES NORTH AMERICA / Jamie McCarthy

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