Sony Music and Bob Dylan have reached a deal for rights to Dylan's entire back catalog of recorded music, plus multiple future releases, the record label announced.
Sony and Dylan agreed on terms of the deal last July.
Although the value has not been disclosed, Billboard estimates Dylan's master recordings are worth upwards of $200 million. Dylan's music generates an estimated $16 million in global annual revenue. Deals of this kind are typically valued at 15 - 20 times their annual revenue.
The agreement encompasses Dylan's entire recorded catalog, including his 39 studio albums from 1962 through 2020 and counting.
It comes after Dylan sold his publishing rights to Universal Publishing Group in December of 2020 for an estimated $300 million.
"Columbia Records and [Sony Music Group chairman] Rob Stringer have been nothing but good to me for many, many years and a whole lot of records," Dylan said in a statement. "I'm glad that all my recordings can stay where they belong."
Dylan is one of many music icons to secure a major windfall for rights to their music in recent years. In December, Bruce Sprinsteen sold his masters and publishing catalog rights for a combined $500 million.