How does it feel to be an extremely rich man? Bob Dylan now knows the answer to that question.
Universal Music Publishing Group has acquired the rights to the Minnesota-born songwriter’s catalogue, which is one of the deepest and storied in American history.
The terms of the sale have yet to be made public, though it is believed to be over $300 million.
LISTEN BELOW: Interview with Canadian music journalist Eric Alper
“We’re in an era where songs have never been valued higher,” music journalist Eric Alper said during an interview with 630 CHED’s J’lyn Nye on Monday.
The catalogue includes over 600 copyrights, including songs such as Blowin’ In The Wind, Murder Most Foul and the folk-rock standard Like A Rolling Stone.
“Once you see that your royalty cheques have dwindled, this is a perfect time to get out, get your money and enjoy the rest of you life in peace and happiness,” said Alper.
This means Universal will now collect the royalties for Dylan’s music.
This sort of deal though is far from uncommon, as Stevie Nicks sold her end of her publishing catalogue for a reported $100 million last week.
“Bob Dylan has set himself up and his family for generations,” Alper said.
“That is power and power is money when it comes to the United States.”
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