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Bob Dylan Sells Recorded Catalog to Sony Music Entertainment – NBC10 Philadelphia

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  • Sony Music Entertainment has acquired Bob Dylan’s entire catalog of recorded music.
  • Dylan, 80, is one of many older musicians who have sold off the rights to their catalog in recent years, possibly as part of an estate plan.
  • The famous musician sold his songwriting rights in 2020 to Universal Music.

Sony Music Entertainment has acquired Bob Dylan’s entire portfolio of recorded music, the company announced Monday.

“Columbia Records and Rob Stringer have done me no good for many, many years and many records,” Dylan said in a statement. “I’m glad all my recordings can stay where they belong.”

The deal includes all of the popular singer’s previous albums dating back to 1962 as well as rights to many future releases. The agreement ended in July 2021 and is estimated to be worth between $150 million and $200 millionaccording to Variety.

Rob Stringer, President of Sony Music Group, said: “Columbia Records has had a special relationship with Bob Dylan from the very beginning of his career and we are extremely proud and delighted to continue to do so. developed and developed a continuous partnership during our 60 years”. statement. “Bob is one of music’s greatest icons and an artist of unparalleled genius.

News of the acquisition comes about two years after Dylan sold his songwriting rights in 2020 to Universal Music in a deal estimated to be worth about $300 millionaccording to the New York Times.

Dylan, 80, is one of many older musicians who have sold off the rights to their catalog in recent years. Many in the industry speculated that these acquisitions were part of the artists’ real estate plans.

A track record is a valuable asset, but requires extensive management, something heirs often find difficult to handle. Additionally, there is a movement in Washington to raise capital gains taxes above their current 20%.

https://www.nbcphiladelphia.com/news/business/money-report/bob-dylan-sells-recorded-music-catalog-to-sony-music-entertainment/3118224/ Bob Dylan Sells Recorded Catalog to Sony Music Entertainment – NBC10 Philadelphia

Huynh Nguyen

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