Bob Dylan sells his entire 58-year-old songwriting catalog to Universal Music Group.
The 79-year-old songwriter has done a great job for the music industry with more than 600 songs. ‘Like a Rolling Stone,’ ‘Tangled Up in Blue,’ and ‘Blowin’ in the Wind’ are a few of his greatest masterpieces. He has put an uncountable value on his work, so it’s very difficult to calculate the value of Dylan’s songwriting.
However, the Universal Music Group has announced to do a blockbuster deal with this great songwriter, buy the highly valuable songwriting catalog of Bob Dylan.
Universal Music wrote a welcoming message to Bob Dylan on their Twitter account.
After this deal, ‘Not Dark Yet’ hitmaker will not get any future royalties from television, radio, or any other streaming platforms, all the payments will go to Universal Music.
A music journalist, Jeff Slate said: “If you hear a song in a television commercial or you stream it on Spotify or you hear it in a movie, the publisher of that work is getting paid, no matter who is performing it.”