Where does that leave up-and-coming talent? Songwriters cashing in on this trend don’t necessarily have to be staring down retirement—Hipgnosis’ earlier deals also included The-Dream, No I.D., and Justin Bieber collaborator Poo Bear—but massive hits are required. “When younger artists see the Dylan catalog going for $300 million, they should understand that those numbers don’t apply to them,” says Tony Alexander, president of Made in Memphis Entertainment, a studio, label, and publisher he co-founded with indelible Stax Records tunesmith David Porter. Alexander sees alternative opportunities for independent artists in areas like sync licenses, where he’s heard from music supervisors who specifically want unreleased songs.

– Marc Hogan, Pitchfork