Bob Dylan has sold his entire catalog of songs, which encompasses more than 600 songs over 60 years, in a “landmark agreement” with Universal Music Publishing Group.
The agreement between Dylan and the company was announced Monday. It’s a major shift for the singer and songwriter, who has controlled much of his own intellectual property according to multiple reports. Financial terms weren’t disclosed, but the New York Times says it’s estimated at more than $300 million.
“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,” said Universal Music Publishing Group CEO Jody Gerson in a statement.
“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,” added Sir Lucian Grainge, the CEO of Universal Music Group. “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.”
