Sony Music has acquired all of Bob Dylan’s previous albums and his entire record list, including “rights to multiple future releases”.
The financial terms of the contract have not been released. Billboard, a music business publication, estimates that Dylan’s rights to the record could be worth about $ 200 million, with annual revenues worldwide estimated at $ 16 million.
When Dylan sold his songwriting rights – will be separate from recordings up to Universal Music in late 2020, and the deal is estimated to be worth more than $ 300 million.
In Dylan’s case, the songwriting corpus was invaluable because thousands of cover versions of his songs were created over the years – from Peter, Paul & Mary in the 1960s to Adele, who recorded Dylan’s “Make You Feel My Love”. In his first album.
Dylan’s history with Sony – owned Columbia Records goes back more than 60 years. He signed the label in 1961 with its famous talented scout John Hammond, and the following year, Columbia released Dylan’s self-titled first album, which included traditional folk songs and “Dokin ‘New York” and “Dokin’ New York” and “Woody to Woody,” his hero Woody. A tribute to Kudri.
“Columbia Records and Rob Stinger have been with me for many, many years and many recordings and nothing but good,” Dylan said in a statement. Stringer is the CEO of Sony Music and former President of Colombia.
“I’m glad all my records are in their place,” Dylan added.
Dylan, 80, sold the rights to his own master records, which he had long controlled, to Sony. According to Sony, the transaction closed in July, and is one of the music industry’s rarest big cash deals, avoiding leaks for six months.
This agreement is part of the transaction for the list of artists, which includes Sony has bought Bruce Springsteen’s recorded music for $ 550 million Other major contracts and songwriting lists for the work of Paul Simon, Stevie Knicks, Tina Turner, Neil Young, Shakira and others.
The copyright for recordings and songwriting – the lyrics and melodies that are the basis for recording any song – are separate, and both have been preferred by investors in recent years as the streaming music industry’s fortunes have skyrocketed.