Universal Music has purchased the entire again catalogue of Bob Dylan’s songs, it introduced on Monday, in a purported nine-figure deal for one of the vital prized rights’ collections in music historical past.
The deal covers greater than 600 music copyrights spanning 60 years, together with Blowin’ In The Wind, The Times They Are a-Changin, Like A Rolling Stone, Lay Lady Lay and Forever Young,” Universal Music mentioned in a press release.
The music firm gave no monetary particulars of the acquisition however the Financial Times reported it was a “nine-figure deal.” The New York Times estimated the value at greater than $300 million.
“The deal is the most significant music publishing agreement this century and one of the most important of all time,” Universal Music mentioned in its assertion.
The worth of proudly owning music rights has soared in recent times with the surge in recognition of streaming websites similar to Spotify.