Bob Dylan sells his entire song catalogue to Universal Music
- The legendary musician burst into the scene in the 1960s and wrote songs like Blowin’ in the Wind and The Times They Are a-Changin’
- The amount was not disclosed, but Dylan is cashing in on the boom in music rights, as the value of songs and recordings skyrockets thanks to streaming
Universal did not disclose a price for the deal, though Dylan’s songs are worth more than US$200 million, according to people familiar with the terms.
The collection encompasses 600 works, from early 1960s songs such as Blowin’ in the Wind and The Times They Are a-Changin’ to an album released just this year, “Rough and Rowdy Ways”.
Dylan, 79, is cashing in on the boom in music rights. The value of songs and recordings has skyrocketed in recent years thanks to streaming, which has fuelled a five-year expansion for the music industry after a deep slump. He is not selling the recordings, which are a separate asset.
“It is no exaggeration to say that his vast body of work has captured the love and admiration of billions of people all around the world,” Universal CEO Lucian Grainge said in a statement.
“I have no doubt that decades, even centuries from now, the words and music of Bob Dylan will continue to be sung and played – and cherished – everywhere.”
Song rights, represented by music publishers, do not usually fetch as much money as recordings. But they can be a more reliable source of revenue.