Bob Dylan’s Recorded-Music Catalog Is Bought By Sony For Around $200 Million
After selling his songwriting catalog to Universal Music Publishing Group in late 2020 for around $300 Million, Bob Dylan recently finalized a sale to Sony for his recorded-music catalog. Both sides did not disclose the exact numbers, but rumors are circulating that he obtained around $200 Million from the sale.
After the pandemic hit the music industry, many musicians had a tough time sorting out their finances due to the cancellations of live events. Their income has decreased immensely, and several found relief by selling their catalogs. Many artists, including Bruce Springsteen, Mötley Crüe, and David Crosby, have chosen to do this in the past two years, and it has almost become a trend.
Dylan’s catalog is one of the biggest in the industry, which is known to have reshaped folk, rock, and pop music. Today, he is an icon and a legend who has won the Nobel Prize ‘for having created new poetic expressions within the great American song tradition.’ He sold his songwriting catalog to Universal in December 2020 for around $300 Million.
He gave up the rights to his iconic songs like ‘Blowin’ in the Wind,’ ‘The Times They Are A-Changing,’ and ‘Like a Rolling Stone.’ Generally, the songwriting credits are important if another artist later wants to release a cover of one of the songs or use a part of their lyrics on a new project.
Over a year later, Bob Dylan has now decided to make a deal with Sony for his recorded music. The number was disclosed neither by Sony nor Dylan’s party, but rumor has it that he sold his recorded music consisting of 39 studio albums and 16 bootlegs for $200 Million. Dylan also recently donated his archives, including drafts and lyrics, to the Bob Dylan Center in Tulsa. It is scheduled to open in May 2022 and will be exhibiting over 100,000 items related to the legendary songwriter Bob Dylan.