Monday, May 23

Bob Dylan sells the rights to his recorded music for hundreds of millions of dollars to Sony

More and more artists are selling their rights and catalogs, especially since the Covid-19 pandemic: David Bowie, Tina Turner, Neil Young… And it’s now Bob Dylan’s turn, as AFP reports. Indeed, he sold the rights to his entire catalog of recorded music to Sony, the latest episode in a series of repertoire buyouts.

The agreement, which was announced on Monday January 24, had already been signed last July. It concerns a total of 39 albums, and covers nearly sixty years of music by the folk and country singer, Nobel Prize for Literature 2016. The rights therefore range from his first eponymous album in 1962, which was a fiasco, to “Rough and Rowdy Ways” in 2020, specifies AFP. The transaction also covers the “rights for future new releases” of songs by the 80-year-old artist, according to the statement from Sony Music Entertainment (SME).

$200 million at stake?

If the amount of the redemption has not been communicated, specialized sites such as “Billboard” and “Variety” evoke an amount greater than 200 million dollars. Bob Dylan had already marked the music industry by selling, at the end of 2020, all of his copyrights – different from the recording rights sold to Sony – to Universal, for an amount estimated at the time at 300 million. dollars.

As a reminder, copyrights make it possible to receive dividends on the broadcasting of a title on the radio or in streaming, on album sales or on their use in an advertisement or in a film, the copyright holders recording that can decide on future reissues.

The deal solidifies a long-standing relationship between Sony and Bob Dylan, who signed in 1961 to Columbia Records, now a subsidiary of the music giant. Together, they will continue to “collaborate on a whole series of reissues of the artist’s catalog,” said the music giant. These albums of unpublished versions of his masterpieces or lives are now at their 16e volume.

Reference-www.cnews.fr

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