It’s a huge payday for Bob Dylan as he has sold his entire catalog of more than 600 songs, in a “landmark agreement” with Universal Music Publishing Group.
The deal between Dylan and UMPG was announced Monday. For one who has controlled much of his own intellectual property, it’s a big shift. The terms weren’t disclosed, but then it’s estimated to be north of $300 million.
Universal Music Publishing Group CEO Jody Gerson said in a statement.
“To represent the body of work of one of the greatest songwriters of all time – whose cultural importance can’t be overstated – is both a privilege and a responsibility,”
Sir Lucian Grainge, the CEO of Universal Music Group said, “It’s no secret that the art of songwriting is the fundamental key to all great music, nor is it a secret that Bob is one of the very greatest practitioners of that art,” “Brilliant and moving, inspiring and beautiful, insightful and provocative, his songs are timeless—whether they were written more than half a century ago or yesterday.”
Music publishing has become a lucrative investment as of late especially with the pandemic that has halted live performances. Dylan, 79, has many notable tracks, including “The Times They Are a-Changin’,” “Like a Rolling Stone” and “Mr. Tambourine Man.”
