Catalog cover

Bob Dylan sells stake in Traveling Wilburys catalog to primary wave

Bob Dylan live. Photo credit: Alberto Cabello

Primary Wave officially acquired Bob Dylan’s interest in the work of the Traveling Wilburys.

New York-based Primary Wave, which quietly closed a number of other catalog investments in 2022, emailed DMN about this latest coin today. The deal comes about four months after Bob Dylan sold his recordings to Sony Music and about 17 months after the Duluth, Minnesota native’s publishing catalog became part of Universal Music Publishing Group.

But those pacts obviously didn’t cover 80-year-old Dylan’s participation in The Traveling Wilburys’ catalog, comprising two albums and a box set from 2007. Commercially successful releases include such well-known tracks as “End of the Line”, “Handle With Care” and “Inside Out”, to name a few.

For further reference, the Grammy-winning supergroup – consisting of Dylan, George Harrison (whose estate signed a administration deal with BMG last month), Tom Petty, Jeff Lynne and Roy Orbison – currently numbers 2, 94 million monthly listeners on Spotify, notwithstanding the relatively small volume of work at hand.

Neither Primary Wave nor the Bob Dylan on tour have publicly disclosed financial or ownership details of the deal. However, the transaction encompasses “primary royalties and neighboring rights royalties for both albums” from the 10-time Grammy winner, as well as the aforementioned box set, according to superiors.

Addressing its plans for Bob Dylan’s part of The Traveling Wilburys catalogue, Primary Wave, 16, said it will “seek to further the legacy of these iconic musicians and famous and legendary albums” using an “infrastructure internal which includes marketing, digital strategy, licensing and synchronization opportunities.

And in a statement, Primary Wave’s vice president of business and legal affairs, Samantha Rhulen, added: “Acquiring even a small portion of Bob Dylan’s work as part of Traveling Wilburys is, to say the least, exciting. We are honored to add this piece of history to our growing catalog of music.

Despite some signs of cooling in the previously scorching catalog space, 2022 continues to deliver remarkable IP music sales.

Ahead of Primary Wave’s pact with Bob Dylan, for example, BMG closed out April by buying a catalog stake in Primal Scream, which executives dubbed “one of the most influential bands of the past 30 years.” “. Lesser-known players such as Influence Media Partners and Mojo Music & Media also finalized song rights deals in April.

Amid this move towards relatively small games, given the potential cooldown highlighted above in the catalogs, other blockbuster deals could still be on the way. To be sure, Pink Floyd is considering selling its own music IP, according to unnamed sources with knowledge of the matter.