American singer-songwriter Bob Dylan sold his catalog of more than 600 songs to Universal. The agreement between the artist and the label would have been around $ 300 million, according to the New York Times.
“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,” UMPG Chairman & CEO Jody Gerson said. “The UMPG global team is honored to be Bob Dylan’s publishing partner and I especially want to acknowledge [company COO] Marc Cimino, whose passion and perseverance were instrumental in bringing this opportunity to us. We look forward to working with Bob and the team in ensuring his artistry continues to reach and inspire generations of fans, recording artists and songwriters around the world.”
According to the Times, Dylan sold 100% of the rights to the catalog, which includes songwriting income and control of song copyrights. This means that all proceeds from now on will go to Universal.
However, the contract does not include songs that belong to Leeds Music, such as “Song For Woody” and “Talkin’ New York ”. Works that Dylan writes hereafter are also excluded.