Universal Music Publishing Group Announcement
According to the announcement made to UMPG's Twitter account, Dylan is working closely with the group,
"in ensuring his artistry continues to reach and inspire"
Jody Gerson, chief executive of UMPG, released a statement saying,
"To represent the body of work of one of the greatest songwriters of all time — whose cultural importance can't be overstated — is both a privilege and a responsibility"
UMPG now owns the rights to Dylan's whole songwriting lineup of more than 600 songs in a deal that critics predict was record-breaking.
The Legendary Bob Dylan
While there has been no official statement released from either side on the specifics of the arrangement, Variety predicts that the deal was worth "at least nine figures".
This amount comes at no surprise as Bob Dylan is a trailblazer of the music industry, known for using his platform and talent to speak on social and political issues.
Bob Dylan began his career in 1960 as a folk singer. Dylan was idolized for the sound of his voice and the meaning of his words. As the singer-songwriter gained a following, he began pushing limits and surprisingly mixing genres. Dylan began creating half-folk and half-rock albums, earning him a spot in both genres as a pioneer.
Bob Dylan has been awarded numerous amounts of Grammys, the Presidential Medal of Freedom, and the Nobel Prize in Literature.
Universal Music Publishing Group's Success
The full list of artists represented by UMPG can be found here: https://www.universalmusic.com/label/universal-mus...
UMPG has been one of the few groups of the music industry to do well during the Covid-19 pandemic due to streaming services. In the first nine months of 2020, Universal generated more than $1 billion in streaming revenues.
Bob Dylan's legacy will now live on through Universal as both groups collaborate in the hopes of inspiring future innovators of the music industry.
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