Bob Dylan has unloaded his entire songwriting catalog for $300-million in a deal with Universal Music Publishing Group.
“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,” says Universal Music Group CEO Lucian Grainge.
The deal covers more than 600 songs including those on his latest album, Rough and Rowdy Ways. Universal will get 100 percent of the publishing and now controls each song’s copyright, plus they will get all the income Dylan would’ve received as the songwriter. The deal does now include any future songs Dylan may write. He turns 80 next year so whatever his output is going forward won’t be anything close to what he’s done since the early ’60s.
One of the songs in the deal is one Dylan didn’t write, but owns the copyright to is “The Weight” by The Band.
This news comes just days after it was announced that Stevie Nicks sold 80-percent of her publishing for $100-million.