In exchange for its payment to Dylan, Universal, a division of the French media conglomerate Vivendi, will collect all future income from the songs. Streaming has helped lift the entire music market - publishers in the United States collected $3.7 billion in 2019, according to the National Music Publishers’ Association - which has drawn new investors attracted to the steady and growing income generated by music rights.ĭylan’s deal includes 100 percent of his rights for all the songs of his catalog, including both the income he receives as a songwriter and his control of each song’s copyright. Swift signed a separate publishing deal with Universal in February.) (The recent sale of Taylor Swift’s first six albums covered only that material’s recording rights.
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Publishers and writers collect royalties and licensing fees any time their work is sold, streamed, broadcast on the radio or used in a movie or commercial. Music publishing is the side of the business that deals in the copyrights for songwriting and composition - the lyrics and melodies of songs, in their most fundamental form - which are distinct from those for a recording.
According to Universal, Dylan’s songs have been recorded more than 6,000 times. Not only has it stood the test of time, but most of his songs were written by Dylan alone and have been frequently covered by other artists - with each use generating royalties. Jody Gerson, the chief executive of Universal’s publishing division, said, “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.”ĭylan is the kind of writer whose work music publishers tend to salivate over. Still, Universal insisted it would be tasteful in its use of Dylan’s work. “Tangled Up in Blue Cross/Blue Shield,” wrote another. After the deal was announced early Monday, users on Twitter had a field day with corny puns suggesting how Dylan’s work could be exploited. Since Universal now controls his work, Dylan will no longer have veto power over how his songs will be used. Two years ago, he launched a high-end whiskey brand, Heaven’s Door.
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The Coopers & Lybrand spot was far from Dylan’s last commercial license: He did a prominent deal for a Victoria’s Secret TV spot in 2004, and later worked with Apple, Cadillac, Pepsi and IBM. Fans, media commentators and even other artists reacted in horror Time magazine wrote about the controversy with the headline “ Just in Case You Hadn’t Heard - The ’60s Are Over.” In 1994, Dylan let the accounting firm Coopers & Lybrand - predecessor of the current giant PricewaterhouseCoopers - use Richie Havens’s rendition of his 1964 protest anthem “The Times They Are A-Changin’” in a TV spot. Yet to a degree that still surprises and shocks his audience, Dylan has long been aggressive about marketing his music, including pursuing licensing deals to place his songs in television commercials.
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