Tuesday, December 8, 2020

Universal Music Buys Bob Dylan’s Entire Catalogue

 Universal Music has bought the entire back catalogue of Bob Dylan’s songs, the company announced Monday, describing the deal as “one of the most important” music publishing agreements of all time

TheGuardian

The deal covers more than 600 song copyrights spanning 60 years including “Blowin’ In The Wind,” “The Times They Are a-Changin’,” “Like A Rolling Stone,” “Lay Lady Lay,” (and) “Forever Young,” Universal Music said in a statement.

The music company gave no financial details of the purchase but the Financial Times reported it was a “nine-figure deal.”

The New York Times estimated the price at more than $300 million. The value of owning music rights has soared in recent years with the surge in popularity of streaming sites such as Spotify, a trend that has grown during the pandemic lockdown.

Dylan, who burst onto the folk scene in New York in the early 1960s, has sold more than 125 million records around the world.

The US folk and rock legend’s songs are also frequently covered by other artists, generating royalties.

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