Over the past couple of years, Universal Music Group and Sony Music Group have jointly splashed over half a billion dollars on Bob Dylan’s copyrights. UMG spent somewhere close to $400 million on his song catalog in 2020, while Sony bought his recorded music rights for north of $150 million last year. Now, the two majors are partnering on an NFT project founded by Bob Dylan, himself.
Source: Universal and Sony spent $550m buying Bob Dylan’s music rights. Now they’re making NFTs with him.