Bob Dylan within the Sixties.
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Sony Music Entertainment has acquired the complete recorded music catalog of Bob Dylan, the corporate introduced Monday.
“Columbia Data and Rob Stringer have been nothing however good to me for a lot of, a few years and an entire lot of information,” Dylan stated in a press release. “I am glad that every one my recordings can keep the place they belong.”
The deal consists of the entire famed singer’s earlier albums relationship again to 1962 in addition to the rights to a number of future releases. The deal closed in July 2021 and is estimated to be worth between $150 million and $200 million, in accordance with Selection.
“Columbia Data has had a particular relationship with Bob Dylan from the start of his profession and we’re tremendously proud and excited to be persevering with to develop and evolve our ongoing 60-year partnership,” stated Rob Stringer, chairman of Sony Music Group, in a press release. “Bob is certainly one of music’s biggest icons and an artist of unequalled genius.
The information of the acquisition comes round two years after Dylan offered his songwriting rights in 2020 to Common Music in a deal estimated to be worth around $300 million, in accordance with the New York Occasions.
Dylan, 80, is certainly one of many older musicians who’ve offered off rights to their catalogs in recent times. Many within the business speculate that these gross sales are a part of these artists’ property planning.
Tune catalogs are precious belongings, however require intensive administration, one thing that heirs are sometimes unequipped to deal with. Moreover, there’s a motion in Washington to extend capital positive factors taxes above their present 20% stage.
