https://variety.com/2021/music/news/bruce-springsteen-sells-catalog-sony-500-million-1235134590/
Good work if you can get it.
Good work if you can get it.
Springsteen sells his catalogue for around $500 million
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Last: 4 yr ago by Four Seasons Landscaping
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If I had a half billion, I would buy this and flush it like the turd it is. Group buy???
Now Sony can finally move on from Spider-Man and create the Springsteen Cinematic Universe we've all been craving.
Why can't things in New Jersey, stay in New Jersey.oragator said:
https://variety.com/2021/music/news/bruce-springsteen-sells-catalog-sony-500-million-1235134590/
Good work if you can get it.
Tweeter & The Monkey Man: coming in 2029!AliasMan02 said:
Now Sony can finally move on from Spider-Man and create the Springsteen Cinematic Universe we've all been craving.
Tibbers said:Why can't things in New Jersey, stay in New Jersey.oragator said:
https://variety.com/2021/music/news/bruce-springsteen-sells-catalog-sony-500-million-1235134590/
Good work if you can get it.
Same for Bon Jovi
Why would they pay $500 million for an asset that brings in $22.5 million per year? That will take 20 years to recoup if he stays as popular as he is today for 20 more years.
Now Springsteen can record new "Springsteen Versions" of his songs and undercut what Sony just bought.
C@LAg said:true. Springsteen is a solid album seller at present (and fantastic concert draw), but to date he is not an evergreen artist like the Beatles or Led Zeppelin that seem to find an ongoing new audience every decade.Philo B 93 said:
Why would they pay $500 million for an asset that brings in $22.5 million per year? That will take 20 years to recoup if he stays as popular as he is today for 20 more years.
I guess Sony can now regularly pimp out his songs for commercial, movies, etc.
Nothing says "buy this car" like Nebraska.
Philo B 93 said:
Why would they pay $500 million for an asset that brings in $22.5 million per year? That will take 20 years to recoup if he stays as popular as he is today for 20 more years.
Because Sony believes there's at least an extra $5m a year that can be squeezed out via streaming and other modern platforms. Likely more.
C@LAg said:
Additionally, there is a movement in Washington to increase capital gains taxes above their current 20% level. So, Springsteen could be looking to make a deal before the end of the year, Billboard said.
He talks like he is lower, working class, but sure acts like the top 1%
Singing for and about the working class is not the same thing as acting like you are in the working class.
He's always been a savvy businessman.
Proposition Joe said:Philo B 93 said:
Why would they pay $500 million for an asset that brings in $22.5 million per year? That will take 20 years to recoup if he stays as popular as he is today for 20 more years.
Because Sony believes there's at least an extra $5m a year that can be squeezed out via streaming and other modern platforms. Likely more.
So they're buying at a 5cap. you can buy this or a 1mm sf office building in a major city.
rononeill said:Proposition Joe said:Philo B 93 said:
Why would they pay $500 million for an asset that brings in $22.5 million per year? That will take 20 years to recoup if he stays as popular as he is today for 20 more years.
Because Sony believes there's at least an extra $5m a year that can be squeezed out via streaming and other modern platforms. Likely more.
So they're buying at a 5cap. you can buy this or a 1mm sf office building in a major city.
I said at least -- I have no idea what Sony's #'s say it's worth over the next 20 years.
I mean, they could also invest that $500 million in alpacas.
But I'm guessing they know the music business a bit better.
With the skyrocketing value of digital assets, I imagine Sony has a pretty good idea what they are doing.
Quote:
So they're buying at a 5cap. you can buy this or a 1mm sf office building in a major city.
Do I have to decide right now? I need to talk to my people and move some monies in different places.
I do not recommend his recent Netflix(?) special where he does monologues while singing and in between songs.
It's terrible.
It's terrible.
C@LAg said:
Additionally, there is a movement in Washington to increase capital gains taxes above their current 20% level. So, Springsteen could be looking to make a deal before the end of the year, Billboard said.
He talks like he is lower, working class, but sure acts like the top 1%
Country music has been doing this same **** for 30 years. Pandering pays the bills.
He's full of ***** Who would have guessed.
Here's hoping he redistributes that wealth and pays his fair share or senator Karen will come after him!
If this happens, his net worth is getting up there near the McCartney level.
Yeah that sucked.YouBet said:
I do not recommend his recent Netflix(?) special where he does monologues while singing and in between songs.
It's terrible.
I guess he'll never ride in a used car again
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Do people under 30 even know who he is? Risky investment imo
Went down to see my VA man
He said son, don't you understand?
He said son, don't you understand?
I'll take both and then throw his annoying ass off the office building.rononeill said:Proposition Joe said:Philo B 93 said:
Why would they pay $500 million for an asset that brings in $22.5 million per year? That will take 20 years to recoup if he stays as popular as he is today for 20 more years.
Because Sony believes there's at least an extra $5m a year that can be squeezed out via streaming and other modern platforms. Likely more.
So they're buying at a 5cap. you can buy this or a 1mm sf office building in a major city.
Furlock Bones said:
He's full of ***** Who would have guessed.
I would hope anyone that has watched movies or listened to music would have guessed a long time ago that it's entertainment and not an auto-biography.
Ok buddy.
Philo B 93 said:
Why would they pay $500 million for an asset that brings in $22.5 million per year? That will take 20 years to recoup if he stays as popular as he is today for 20 more years.
I am too lazy to look it up but anyone remember how the David Bowie deal was structured? I seem to remember it was pretty ground breaking
How much did he get for the wrapped up like a ***** song?
Because it's not a depreciating asset like a building.Philo B 93 said:
Why would they pay $500 million for an asset that brings in $22.5 million per year? That will take 20 years to recoup if he stays as popular as he is today for 20 more years.
value may fluctuate as tastes change, but they seem to believe his music will always carry a significant value. cash in 22.5 million each year for the next 10 years and then resale for 600 million or a billion, easy profit. example: mj bought the beatles for 50million, sold for 750million
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I'm not sure you could get me to sit down and listen to Springsteen's entire catalogue for 500 million.
Awful.
Awful.
Four Seasons Landscaping
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Philo B 93 said:
Why would they pay $500 million for an asset that brings in $22.5 million per year? That will take 20 years to recoup if he stays as popular as he is today for 20 more years.
20x multiple is unfortunately kind of low on investments nowadays.
And with digital assets going through the roof, they are probably correct.
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