Bob Dylan Sells Entire Songwriting Catalogue To Universal Music

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Bob Dylan has sold his entire songwriting catalogue to Universal Music, in historic deal.

According to the New York Times, the icon sold his back catalogue for $300 million (£225 million), transfering the ownership, to Universal, of over 600 songs spanning a period of almost six decades. It may be the biggest acquisition ever of a single act’s publishing rights.

While the deal means Universal now control the huge back catalogues, Dylan is also listed as the principal songwriter on the vast majority of songs – meaning Universal does not have to share future revenues with any other songwriters

The chief executive of the Universal Music Group, Lucian Grainge said “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,”

The chief executive of Universal’s publishing division, Jody Gerson added “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.”

While Dylans reasons for sale have yet to be confirmed, he follows The Killers, Chrissie Hynde, and Blondie – who have all sold their publishing stakes in the last 12 months.