Universal Music has struck a deal to buy the rights to Bob Dylan’s entire catalogue of 600 songs, from Blowin’ in the Wind to Knockin’ on Heaven’s Door, in the biggest music publishing deal in decades.
Dylan, whose body of work over six decades made him the first songwriter to be awarded the Nobel prize in literature, in 2016, has sold more than 125m records worldwide.
While the terms of the deal were not disclosed, the volume and popularity of his work is likely to mean it is the most lucrative to be struck at least this century, worth hundreds of millions of dollars.
The deal covers the publishing rights to songs including Lay Lady Lay, Like a Rolling Stone, The Times They Are a-Changin’, Make You Feel My Love and Tangled Up in Blue.
“It’s no secret that that the art of songwriting is the fundamental key to all great music,” said Sir Lucian Grainge, the chief executive of Universal Music. “Nor is it a secret that Bob is one of the very greatest practitioners of that art.”
Cashing in on catalogues is a booming business. The London-listed Hipgnosis Songs Fund, which gives investors the chance to make money from royalties generated by songs by artists from Beyoncé to Blondie, has spent £1.2bn buying 117 catalogues to date.
Dylan’s songs remain hugely popular, having been recorded more than 6,000 times by dozens of artists, including Adele, Guns N’ Roses, Bob Marley, U2 and Stevie Wonder. Dylan has produced more than 50 albums and, at 79 years old, continues to tour, playing about 100 concerts a year.
“To represent the body of work of one of the greatest songwriters of all time, whose cultural importance cannot be overstated, is both a privilege and a responsibility,” said Jody Gerson, the chief executive of Universal Music Publishing Group (UMPG).
UMPG’s parent company, Universal Music, the world’s largest music group, which is planning a minimum €30bn (£27bn) stock market flotation in 2022, has deals with stars including Taylor Swift, Elton John and his co-writer Bernie Taupin, Adele and the Bee Gees.
source https://www.theguardian.com/business/2020/dec/07/bob-dylan-sells-publishing-universal-music
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