The famous musician made the drastic decision in the the middle of a very disadvantageous scenario for artists
Singer and songwriter Bob Dylan made the decision to sell his entire track record to Universal Music Publishing Group, in a landmark deal estimated by the New York Times to be around more than $300 million dollars.
The catalog of iconic songs covers more than 600 items. This means a great change for the artist, since he has always managed much of his intellectual property.
As explained by CEO of Universal Jody Gerson in a statement:
Representing the entire work of one of the greatest composers of all time, whose cultural importance cannot be overstated, is both a privilege and a responsibility.
This copyright sale comes in the middle of an uncertain present for artists around the world due to the pandemic, which has put live performances on hold. In fact, Bob Dylan is not the first musician to sell all his intellectual material, as Stevie Nicks also decided a few days ago to divest his catalog in a $100 million dollar deal.