LONDON, ENGLAND – JULY 12: Editors note – image converted to black and white: Bob Dylan performs as part of a double bill with Neil Young at Hyde Park on July 12, 2019 in London, England. (Photo by Dave J Hogan/Getty Images for ABA)
Photo: Dave J Hogan/Getty Images, Dave J Hogan. All rights reserved.
Bob Dylan once sold his compositions and lyrics to Universal Music for several million dollars. Now he passed on the rights to the music company Sony Music Entertainment.
The go-ahead to assign all rights to Sony Music was given in July last year. The agreement regulates that all rights from old and new releases pass to Sony Music. Although no sum was given for the purchase, one could expect a purchase price of 150 to 200 million US dollars according to estimates by the industry magazine “Variety”.
The musician has been working with Columbia Records, a Sony Music Labels list, for over five decades. Sony made the announcement on their website on January 24 – also using a quote from Dylan: “I’m glad that all my recordings can stay where they belong.” Dylan previously owned all the rights in 2020 for around 300 million US dollars sold to the group Universal Music. This case and many others make it clear: from today’s perspective, the fight for music rights is more profitable than ever.