Word is out on the street that Bruce Springsteen, the tough kid from New Jersey, America’s storyteller, Mr. Broadway, and of course, The Boss, has sold the rights to his music to Sony. The reported sale price, about $500,000,000 dollars. That is, half a billion bucks, or 1/10th of 1 percent of a Musk.
Selling music rights has become the current rage. Dylan, Paul Simon, Neil Young; all have taken the money and run, though none will be able to run as far as Bruce and his big bundle.
I am a big Springsteen fan, though for many years the only music of his that was bought and paid for was a tape cassette of the Born in the USA. All the songs from the Born to Run album are on my iPhone, but I think that has more to do with something called Napster than any laying out of cash.
I enjoyed the one time we saw Bruce and the E Street boys live at the United Center, though Barb was regretting leaving her earplugs at home as the band’s booming sound bounced off the concrete. My two Bruce disappointments: his autobiography and the TV version of his Broadway show. I gave up on both before reaching the halfway point.
How much was Bruce worth before the deal with Sony? “Reliable sources” online give his previous net worth also at half a billion, so I guess with the additional half-billion he has hit billionaire status. I know it is a lot of money, but I can’t help feeling my daughter would be worth that much if someone had given her 3 shares of Tesla stock instead of 3 shares of Walgreens as a Bat Mitzvah gift.
Of course, Mr. Springsteen is not universally loved. In a question I once posed to a Facebook group, asking who was the better storyteller, Springsteen or John Mellencamp, most respondents just wanted the opportunity to dump on Bruce. I think it had more to do with politics than with music. And now those haters probably just want to get a loan from him.
So Bruce, more power to you. I hope you spread a little of that cash with the bandmates who supported you, guys like Steven and Max. And don’t forget Clarence’s and Danny’s families. And there better be a big new bauble for Patti–and maybe some charitable donations, too.
Oh, and Sony execs, if you are reading this, the rights to my blogs are available. It won’t even cost you $500 mill. I’ll take $500 plain.
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