In a blockbuster deal, Bob Dylan has sold his songwriting catalog to Universal Music Publishing Group (UMPG). While details have not bee disclosed, a report by the The New York Times, has the deal valued at 300 million dollars.
This landmark agreement encompasses more than 600 copyrights spanning 60 years, ranging from 1962′ to the 2020 album Rough and Roudy Ways.
In a press release UMPG Chairman & CEO Jody Gerson said, “To represent the body of work of one of the greatest songwriters of all time – whose cultural importance can’t be overstated – is both a privilege and a responsibility. The UMPG global team is honored to be Bob Dylan’s publishing partner and I especially want to acknowledge Marc Cimino whose passion and perseverance were instrumental in bringing this opportunity to us. We look forward to working with Bob and the team in ensuring his artistry continues to reach and inspire generations of fans, recording artists and songwriters around the world.”
Sir Lucian Grainge, Chairman and CEO of Universal Music Group, added, “As someone who began his career in music publishing, it is with enormous pride that today we welcome Bob Dylan to the UMG family. It’s no secret that the art of songwriting is the fundamental key to all great music, nor is it a secret that Bob is one of the very greatest practitioners of that art. Brilliant and moving, inspiring and beautiful, insightful and provocative, his songs are timeless—whether they were written more than half a century ago or yesterday. It is no exaggeration to say that his vast body of work has captured the love and admiration of billions of people all around the world. I have no doubt that decades, even centuries from now, the words and music of Bob Dylan will continue to be sung and played—and cherished—everywhere.”
Photo Credit Universal Music Publishing Group