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Photo: CHRIS PIZZELLO
Bob Dylan.
Bob Dylan has sold the rights to all of his songs.
The price tag? Approximately 2.5 billion SEK.
– It is a privilege and a responsibility, says Jody Gerson, director of the Universal record company that bought the song tax.
It was the Universal record company that came out with its gigantic purchase on Monday; all songs from Bob Dylan’s 59-year career. The 79-year-old music icon had long owned the rights to most of his endless trove of songs, which consists of more than 600 songs.
The deal includes 100 percent of the rights to Dylan’s songs, which includes his income as a songwriter and his control over the copyright of each individual song, writes the New York Times.
2.5 billion
In his autobiography “Chronicles: Volume One”, Dylan tells how in 1962 he received his first payment of one hundred dollars for a song. Today, his collection of works, with immortal hits like “Blowin ‘in the wind,” “Times are changing,” and “Like a rolling stone” are worth much more than that.
The price of the entire catalog of songs has not been made official, but according to the New York Times it is estimated at more than 300 million dollars, which corresponds to more than 2.5 billion Swedish crowns.
– Representing the work of one of the greatest songwriters of all time – whose cultural importance cannot be overstated – is both a privilege and a responsibility, Jody Gerson, head of Universal’s publishing unit, tells the newspaper.
Can launch new
Universal CEO Lucian Grainge also believes the money has been well spent.
– It’s no secret that the art of songwriting is the basic key to all fantastic music, nor is it a secret that Bob is one of the greatest practitioners of that art, he says.
The Nobel Prize-winning artist has no comment on the purchase, says a spokesperson.
The purchase does not include any of the songs Dylan writes in the future, which opens up the possibility that he may release new material with another company.
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