NEW YORK (AFP) – Bob Dylan offered his whole again catalogue of recorded music together with “the rights to a number of future new releases” to Sony Music Leisure, the corporate introduced Monday (Jan 24).
Sony didn’t disclose the monetary phrases of the deal. In late 2020 the enduring artist, 80, had already offered his songwriting rights – separate from recording rights, which govern replica and distribution – to Common, in a deal estimated to be value greater than US$300 million ($403.90 million).
In line with trade studies together with from Billboard and Selection, the most recent Dylan deal was value upwards of US$200 million.
Sony stated 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 yr.
Hailing Dylan’s “unequalled genius,” Rob Stringer, Sony Music Group’s chairman, stated “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 information. I am glad that every 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 homeowners obtain a lower in a variety of eventualities, together with radio play and streaming, album gross sales, and use in promoting and films.
Dylan’s publishing cope with Common was one of many greater profile gross sales that preceded a flurry of music catalog transactions over the previous yr or so, as monetary markets are more and more drawn to music portfolios as an asset class.
Corporations have acquired a variety of main catalogs together with from David Bowie, Bruce Springsteen, Stevie Nicks, Paul Simon, Motley Crue, The Purple Sizzling Chili Peppers and Shakira.
Springsteen offered each his publishing and recorded music rights to Sony for a staggering US$500 million.
Earlier this month Bowie’s property offered the late singer’s publishing rights to Warner Chappell Music.