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March 13, 2021 “The future for me,” Bob Dylan sang in 2001, “is…a thing of the past.” Presciently, it turns out, because the future for all of us, not just Dylan will consist significantly of hearing the songs of Dylan’s past. The same goes for Shakira, Neil Young, Barry Manilow, and all the other musicians who have sold their back catalogs for hefty fees over the past few years. In the ongoing scramble by funds, investors, and companies to buy up these catalogs, Dylan’s has been the pre-eminent purchase. Universal Music bought his songs for a rumored $300-$400 million. But that is only the crest of a tide of money washing through the industry, acquiring old songs. The bet is that, by squeezing these songs for streaming audio revenue and also selling these songs into soundtracks across video platforms, the catalogs will earn consistently high returns. ....