Bob Dylan had already bought his songwriting rights in late 2020. (FILE)
New York:
Bob Dylan bought his total again catalog of recorded music together with “the rights to a number of future new releases” to Sony Music Leisure, the corporate introduced Monday.
Sony didn’t disclose the monetary phrases of the deal. In late 2020 the enduring artist, 80, had already bought his songwriting rights — separate from recording rights, which govern replica and distribution — to Common, in a deal estimated to be value greater than $300 million.
In response to business reviews together with from Billboard and Selection, the most recent Dylan deal was value upwards of $200 million.
Sony mentioned it closed the recording rights transaction in July 2021, a tightening of Dylan’s six-decade relationship with the corporate.
Dylan was signed to Sony’s Columbia Data in 1961, and recorded his debut album the identical 12 months.
Hailing Dylan’s “unequalled genius,” Rob Stringer, Sony Music Group’s chairman, mentioned “Columbia Data has had a particular relationship with Bob Dylan from the start of his profession and we’re tremendously proud and excited to be persevering with to develop and evolve our ongoing 60-year partnership.”
Dylan additionally lauded the settlement in an announcement: “Columbia Data and Rob Stringer have been nothing however good to me for a lot of, a few years and an entire lot of data. I am glad that each one my recordings can keep the place they belong.”
Dylan’s cope with Sony is separate from his blockbuster publishing sale to Common.
The holders of recording rights can dictate future reissues, whereas publishing rights house owners obtain a minimize in various situations, together with radio play and streaming, album gross sales, and use in promoting and flicks.
Dylan’s publishing cope with Common was one of many increased profile gross sales that preceded a flurry of music catalog transactions over the previous 12 months or so, as monetary markets are more and more drawn to music portfolios as an asset class.
Firms have acquired various main catalogs together with from David Bowie, Bruce Springsteen, Stevie Nicks, Paul Simon, Motley Crue, The Pink Sizzling Chili Peppers and Shakira.
Springsteen bought each his publishing and recorded music rights to Sony for a staggering $500 million.
Earlier this month Bowie’s property bought the late singer’s publishing rights to Warner Chappell Music.
(Apart from the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)