Bruce Springsteen has sold the master recordings and publishing rights for his life’s work to Sony for a reported $500m (£376m), BBC reports.
The deal, according to the report, gives Sony ownership of his 20 studio albums, including classics like Born To Run, The River and Born In The USA.
A 20-time Grammy winner, Springsteen’s music generated about $15m in revenue last year.
His deal follows similar sales by Bob Dylan, Blondie and David Bowie.
Warner Music bought the worldwide rights to Bowie’s music in September, and Dylan sold his catalogue of more than 600 songs in December last year to Universal Music Group at a purchase price widely reported as $300m.
The deals provide immediate financial security to the artists and their estates, while the rights-holders hope to profit by building new revenue streams for the music via film and TV licensing, merchandise, cover versions and performance royalties.
