Springsteen Sales His Publishing Catalogue for $500 Million...

14 replies
Well, we know someone will be having a very Merry Xmas

Smart or dumb ?
#$500 #catalogue #million #publishing #sales #springsteen
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  • Profile picture of the author GordonJ
    Originally Posted by discrat View Post

    Well, we know someone will be having a very Merry Xmas

    Smart or dumb ?
    We don't know the details, some of that 500 M could be deferred over time, or put in a trust, or some way to avoid a huge tax liabilty.

    We see a lot of this happening today, old rockers cashing out. Why not? Bruce may have been the BOSS at one time, but today, a fresh faced teeny hip hopper rules the air waves.

    I've always thought he was a pretty smart guy, so I am going to guess he made a smart decision at the right time of his life.

    Now, I've got some running in the street to do.

    GordonJ

    P.S. Also shows how lucrative the Intellectualy Property game is, or can be. IP is one of the great assets we are able to have. It isn't discussed here at WF, but it is a huge marketplace with billions being traded routinely.
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  • Profile picture of the author DWolfe
    At 72 years old probably a very smart move. Bruce will probably buy a few more toys with the change. Still young enough to enjoy it.

    If is also a smart move for Sony now they have the rights to the music. Sure the royalties are well worth it.

    "Bruce is not the only artists to land that type of contract." https://www.nj.com/entertainment/202...lion-deal.html
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  • Profile picture of the author Frank Donovan
    Dylan must be kicking himself for selling out for a measly $300m last year.

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    • Profile picture of the author discrat
      Originally Posted by Frank Donovan View Post

      Dylan must be kicking himself for selling out for a measly $300m last year.

      Yeah, you wonder what kind of taxes these guys pay out of that ??
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      • Profile picture of the author Frank Donovan
        Originally Posted by discrat View Post

        Yeah, you wonder what kind of taxes these guys pay out of that ??
        As Gordon mentioned, there might be some payment deferrals or other tax-reducing arrangements. But it makes sense to cash out at their age. Their catalogue is likely to be producing income long after they've gone, so why not grab some of that while they can.

        Also, for artists like Springsteen who've always relied on substantial proceeds from live concerts, age and Covid is going to put a serious dent in that revenue stream over the coming years.
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      • Profile picture of the author savidge4
        Originally Posted by discrat View Post

        Yeah, you wonder what kind of taxes these guys pay out of that ??
        With the Boss's stance on such things, I can only imagine that how why and where will be analyzed.

        And in case anyone is wondering the taxes on that kind of cash will fall in the 40% category for a whopping $200,000,000.00 tax bill... and even deferring that kind of cash over time will not get passed that bill either, it would be like putting your taxes on a payment plan.

        What should get REAL interesting is weather or not he leaves NJ. There will obviously be some "left overs" when the inevitable happens.. and those would be open for the NJ State Estate Tax ( 15% )
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      • Profile picture of the author WF- Enzo
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        A lot of tax reduction schemes, I'd bet.

        Originally Posted by discrat View Post

        Yeah, you wonder what kind of taxes these guys pay out of that ??
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  • Mebbe Dylan an' Springsteen should team up like The Avengers an' release myootyooly propulsive cover albums guaranteed to SLAY.

    "I'll sing yours if you'll sing mine."

    Solid offah for youse 2 morons less'n you gaht bettah plans, huh?

    Alternative is ... you flog yusselves to death summonin' the energy for songs you wrote 50 years ago ... or endeavor to persuade noo audiences how psoriasis is a metaphor for perpetyool glory ... or Gahdzilla is actschlly for reals so who cares?

    Heartsy up, pump it out, make a mint.

    1% is all I ask.

    So get on with it, you frickin' klutzes.

    Nowan ain't remembahin' nuthin' 'bout tambwoureens & backness of USA for much longah so grab them dollahs while evrywan dootifully pliant sans libertarian strychnine-ass.

    Did I say 2%?

    Yeah, actschwly Bob & Bruce, the hell are you waitin' for?

    Between the both of you, all you gaht is the ear of Obama an' waft of the mange.

    Sry, MANGER.

    Yeah, bcs it is Christmas.

    (If'n it helps, guys, Britney is lookin' way kinda desprit, so you gaht a way potentially exotic threesum gowin here, you wanna ...)

    Hey, so I standin' at 5% rn -- less'n the Kiss guy figures wagglin' his tongue could add value to what is turnin' out to be a trooly exotic initiative.

    "I'm prepared to have my eyes surgically narrowed to fix myself a place in this exciting adventure," says Ed Sheeran.

    "The prospect of either Bruce Springsteen or Bob Dylan grunting my emotions fills me with a combination of excitement and dread," says Lana Del Ray, "though, of course, Dylan is a true gentleman and would never ever grunt ... I'm sorry? ... what do you mean? ... *I'm not part of this project???* ... WHAT PART OF GET THE HELL OUTTA HERE DON'T YOU UNDERSTAND?"

    "The estate of Jaques Brel is unavailable for comment. And even if it was, you lame, hip yanks woudn't understand anyway. Naturally, you're destined to make zillions."
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  • Profile picture of the author VictorLoanz90
    Very smart move on his behalf wise cash out , he's 72 and wants to enjoy the rest of his life lavishly .
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  • Profile picture of the author art72
    I say at his age he's done pretty darned well for himself, could be worse he didn't get divorced far as I can tell,
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    • Profile picture of the author DWolfe
      Originally Posted by art72 View Post

      I say at his age he's done pretty darned well for himself, could be worse he didn't get divorced far as I can tell,
      First wife was Julianne Phillips from 1985 to 1989 More information is on the web if your interested.
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      • Profile picture of the author art72
        Originally Posted by DWolfe View Post

        First wife was Julianne Phillips from 1985 to 1989 More information is on the web if your interested.
        Yeah, I actually looked it up to find he has been in a 4 year marriage prior, but my sarcasm was geared towards his selling out for the $500M pay day, whereas, his current wife; Patty Scialfa since 1991 (*bout the time I met my significant other in 1992) - he has sustained that relationship and as such likely won't have to experience what Bill Gates, Paul McCartney and other celebrity level people have paid to exit a relationship!

        I couldn't imagine paying a $150M per se, to a woman who is basically telling me; "I'm done with you or vice-a-versa!"
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  • Profile picture of the author jamiecoyne
    Just for perspective- Elvis Presley sold his back catalog in 1973 to RCA (because he needed the cash for his divorce settlement) - for $5 MILLION DOLLARS!

    She's getting hers now...the estate is kicking itself now for the billions they've lost since. And they're still trying to litigate to get royalties for "digital downloads", "Ringtones" etc. (And hence they are learning the meaning of the term "perpetuity".)
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  • Profile picture of the author writeaway
    That's a great price considering the fact that Springsteen's brand / portfolio reach is somewhere near the bottom of the middle when it comes to nostalgia value
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