Topline
Bob Dylan’s catalog of past and future recorded music was sold to Sony Music Entertainment, the company announced Monday, over a year after the legendary musician’s songwriting catalog was sold to Universal Music Publishing Group.
Musician Bob Dylan performs onstage during the AFI Life Achievement Award: A Tribute to Michael … [+]
Key Facts
The deal, which was finalized in July 2021, includes Dylan’s entire catalog of recorded music since 1962—39 studio albums and 16 “bootlegs,” according to Billboard, along with the rights to future re-issues of his work, the company said.
Sony paid between $150 and $200 million, anonymous sources told Variety, and Billboard reported the recordings are worth over $200 million and generate $16 million in revenue a year, though Sony did not say how much they paid for them.
Crucial Quote
“Columbia Records and Rob Stringer have been nothing but good to me for many, many years and a whole lot of records,” Dylan, 80, said in a statement, referring to Sony’s subsidiary, the record label he signed to when he first started his music career. “I’m glad that all my recordings can stay where they belong.”
Tangent
In December 2020, Dylan sold his songwriting catalog to Universal Music Publishing group, a deal that was rumored to go for between $250 and $300 million, according to the New York Times and Bloomberg, making it one of the largest sales of its kind. Recording catalogs are often referred to as an artist’s “masters” and are the funnel through which artists are usually able to collect royalties from their music, according to Pitchfork. Songwriting catalogs deal with the actual crafting of the songs, like the notes and the lyrics, and come into play when another artist wants to cover their work, for example.
Key Background
The last few years have seen a plethora of music legends cashing in on their recording and songwriting catalogs. In April, Paul Simon’s song catalog was also sold to Sony for $250 million. Two weeks ago, David Bowie’s entire music catalog sold to Warner Chappell Music for over $250 million, several news outlets reported. Stevie Nicks and Neil Young have also sold stakes in their catalogs.
Further Reading
‘The Times They Are A-Changin’: Bob Dylan Sells Songwriting Catalog To Universal Music Group (Forbes)
Inside Paul Simon’s Catalog Sale: At $250 Million, It’s One Of Music’s Biggest (Forbes)
David Bowie’s Music Catalog Reportedly Sold For $250 Million (Forbes)
What to Know About Music’s Copyright Gold Rush (Pitchfork)
Source: https://www.forbes.com/sites/marisadellatto/2022/01/24/bob-dylan-sells-recording-catalog-to-sony-in-major-deal-one-year-after-he-sold-songwriting-catalog/