Universal Music Group now owns around 60 years of Bob Dylan’s music, in a landmark deal the company announced on Monday - approximately a total of 600 songs.
The landmark deal means that all future radio play, licensing usage and covers of Dylan’s songs will now send all royalties made to UMG. Dylan reportedly received around $300 million in the deal
UMG’s CEO Lucian Grainge said in a statement:
As someone who began his career in music publishing, it is with enormous pride that today we welcome Bob Dylan to the UMG family. 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. 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.