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Neil Young sells 50 percent of publishing rights to his entire song catalog to investment fund
Young has never licensed any of his songs for commercial use and that this is unlikely to change. “There will never be a ‘Burger Of Gold,'" the investment firm said.
Neil Young performs at the BottleRock Napa Valley Music Festival
in Napa, Calif., on May 25, 2019.Amy Harris / Invision/AP file
Jan. 6, 2021, 7:00 AM MST / Source: CNBC.com
By Elliot Smith, CNBC
Legendary folk rocker Neil Young has sold 50 percent of his song catalog to the Hipgnosis Songs Fund, a U.K. investment vehicle founded by music industry veteran Merck Mercuriadis.
The deal gives Hipgnosis the rights to the worldwide copyright and income interests from 1,180 songs composed by Young, and has been reported to have cost around $150 million.
“I bought my first Neil Young album aged 7. ‘Harvest’ was my companion and I know every note, every word, every pause and silence intimately,” former talent manager Mercuriadis said in a statement Wednesday.
Young has never licensed any of his songs for commercial use and that this is unlikely to change. “There will never be a ‘Burger Of Gold,'" the investment firm said.
“Neil Young, or at least his music, has been my friend and constant ever since.”
Hipgnosis floated on the London Stock Exchange in 2018 and acquires music royalties with a view to generating income streams. On Tuesday, the fund announced that it had acquired the entire catalog of Fleetwood Mac lead guitarist and vocalist Lindsey Buckingham.
It has also invested in the rights to songs from artists such as Mark Ronson, Chic, Barry Manilow and Blondie.
Young has never licensed any of his songs for commercial use and Mercuriadis indicated that this is unlikely to change.
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“I built Hipgnosis to be a company Neil would want to be a part of. We have a common integrity, ethos and passion born out of a belief in music and these important songs,” he said.
“There will never be a ‘Burger Of Gold’ but we will work together to make sure everyone gets to hear them on Neil’s terms.”
This is a reference to Young’s hugely popular song “Heart of Gold,” from the Canadian singer-songwriter’s iconic 1972 album “Harvest.”
Last month, Universal Music Group purchased Bob Dylan’s entire 600-song catalog.
Jan. 6, 2021, 7:00 AM MST / Source: CNBC.com
By Elliot Smith, CNBC
Legendary folk rocker Neil Young has sold 50 percent of his song catalog to the Hipgnosis Songs Fund, a U.K. investment vehicle founded by music industry veteran Merck Mercuriadis.
The deal gives Hipgnosis the rights to the worldwide copyright and income interests from 1,180 songs composed by Young, and has been reported to have cost around $150 million.
“I bought my first Neil Young album aged 7. ‘Harvest’ was my companion and I know every note, every word, every pause and silence intimately,” former talent manager Mercuriadis said in a statement Wednesday.
Young has never licensed any of his songs for commercial use and that this is unlikely to change. “There will never be a ‘Burger Of Gold,'" the investment firm said.
“Neil Young, or at least his music, has been my friend and constant ever since.”
Hipgnosis floated on the London Stock Exchange in 2018 and acquires music royalties with a view to generating income streams. On Tuesday, the fund announced that it had acquired the entire catalog of Fleetwood Mac lead guitarist and vocalist Lindsey Buckingham.
It has also invested in the rights to songs from artists such as Mark Ronson, Chic, Barry Manilow and Blondie.
Young has never licensed any of his songs for commercial use and Mercuriadis indicated that this is unlikely to change.
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“I built Hipgnosis to be a company Neil would want to be a part of. We have a common integrity, ethos and passion born out of a belief in music and these important songs,” he said.
“There will never be a ‘Burger Of Gold’ but we will work together to make sure everyone gets to hear them on Neil’s terms.”
This is a reference to Young’s hugely popular song “Heart of Gold,” from the Canadian singer-songwriter’s iconic 1972 album “Harvest.”
Last month, Universal Music Group purchased Bob Dylan’s entire 600-song catalog.
Quick facts: Hipgnosis Songs Fund Limited
Price: 121.1592 GBX
LSE:SONG
Market: LSE
Market Cap: £1.23 billion
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Hipgnosis Songs acquires catalogue of Fleetwood Mac lead guitarist and vocalist
After buying 25% share of the catalogue in September, the investor now owns all of Buckingham’s music publishing rights, as well as a 50% share of any unreleased compositions
Hipgnosis Songs Fund Limited (LON:SONG) announced that it has acquired a catalogue from Lindsey Buckingham, the lead guitarist and vocalist of Fleetwood Mac.
After buying a 25% share of the catalogue in September, the investor now owns all of Buckingham’s music publishing rights, including his Publishing and Writer's Share of his entire catalogue comprising 161 songs, as well as a 50% share of any unreleased compositions.
Starting his music career in the early 70s, Buckingham released his debut album 'Buckingham Nicks' in 1973 with his then partner, Stevie Nicks.
Following 'Buckingham Nicks', the duo joined Mick Fleetwood, John McVie and Christine McVie to create the most famous version of Fleetwood Mac.
In 1975, Fleetwood Mac released their self-titled album which launched the band to musical stardom.
The album, which reached Number 1 on the US Billboard 200 chart, was ranked 182nd by Rolling Stone Magazine on its "The 500 Greatest Albums of All Time" chart, and has been certified 7 times platinum in the US.
Buckingham's second album with Fleetwood Mac, 'Rumours', has sold over 45mln copies worldwide making it one of the nine bestselling albums of all time.
Fleetwood Mac has more than 22mln monthly listeners on Spotify alone and Buckingham's four songs from 'Rumours' have collectively been streamed more than 1bn times on that service alone.
As a member of Fleetwood Mac, Buckingham was inducted into the Rock and Roll Hall of Fame in 1998 and in 2011 was listed in Rolling Stone Magazine's '100 Greatest Guitarists of All Time'.
In addition to his work with the band, Buckingham has released five solo albums including 'Out of the Cradle', 'Under the Skin', 'Gift of Screws' and 'Seeds We Sow'.
"Lindsey Buckingham is one of the greatest guitarists, songwriters and producers of all time yet is still so underrated,” said Merck Mercuriadis, founder of the company, in a statement.
“His work with Fleetwood Mac has brought the world unparalleled joy over the last 45 years and he belongs in any discussion featuring Brian Wilson and Paul McCartney.”
Following 'Buckingham Nicks', the duo joined Mick Fleetwood, John McVie and Christine McVie to create the most famous version of Fleetwood Mac.
In 1975, Fleetwood Mac released their self-titled album which launched the band to musical stardom.
The album, which reached Number 1 on the US Billboard 200 chart, was ranked 182nd by Rolling Stone Magazine on its "The 500 Greatest Albums of All Time" chart, and has been certified 7 times platinum in the US.
Buckingham's second album with Fleetwood Mac, 'Rumours', has sold over 45mln copies worldwide making it one of the nine bestselling albums of all time.
Fleetwood Mac has more than 22mln monthly listeners on Spotify alone and Buckingham's four songs from 'Rumours' have collectively been streamed more than 1bn times on that service alone.
As a member of Fleetwood Mac, Buckingham was inducted into the Rock and Roll Hall of Fame in 1998 and in 2011 was listed in Rolling Stone Magazine's '100 Greatest Guitarists of All Time'.
In addition to his work with the band, Buckingham has released five solo albums including 'Out of the Cradle', 'Under the Skin', 'Gift of Screws' and 'Seeds We Sow'.
"Lindsey Buckingham is one of the greatest guitarists, songwriters and producers of all time yet is still so underrated,” said Merck Mercuriadis, founder of the company, in a statement.
“His work with Fleetwood Mac has brought the world unparalleled joy over the last 45 years and he belongs in any discussion featuring Brian Wilson and Paul McCartney.”
Music investment fund Hipgnosis snaps up producer Jimmy Iovine's entire back catalogue
The portfolio includes 259 songs along with lovine's royalties for the film '8 Mile'
Hipgnosis is co-founded by a former manager of Elton John
It has already invested almost £1.2billion in procuring over 110 catalogues
lovine will use funds from the acquisition to build a high school in inner-city LA
By SADIE WHITELOCKS FOR MAILONLINE
PUBLISHED 4 January 2021
American music producer Jimmy lovine
Music rights investment fund Hipgnosis Songs has snapped up the entire back catalogue from renowned producer Jimmy lovine for an undisclosed sum.
The portfolio includes 259 songs, from artists including Patti Smith, Tom Petty, Dire Straits and U2, along with lovine's film production royalties for '8 Mile' and 'Get Rich or Die Tryin'.
This is the latest move for Hipgnosis, co-founded by a former manager of Elton John, and it has already invested almost £1.2billion in procuring over 110 catalogues that count songs from artists such as Fleetwood Mac, Blondie, and the Kaiser Chiefs.
Many of those catalogues were purchased in the period covering its latest half-year results, which were published in December 2020 and showed its revenues almost doubling from £22.6million to £44.8billion in the six months to the end of September.
During that time, it raised £426million from two placings in July and September and obtained 63 new catalogues.
In the run up to Christmas the music fund celebrated chart success, as Mariah Carey's song 'All I Want for Christmas Is You' made it to number one in the UK charts for the first time in its history. Hipgnosis only acquired rights to the festive hit in September and it remains the most popular Christmas song on Spotify.
The deal with lovine will further bolster the company's portfolio.
Lovine rose to prominence as an engineer working with John Lennon and Bruce Springsteen before exploring the role of producer.
He produced Patti Smith's critically acclaimed, 'Easter' in 1978 and the UK Top 5 hit single 'Because The Night'. Following on from this success, he went on to work with dozens of artists.
Lovine's portfolio includes 259 songs, from artists including Patti Smith, Tom Petty, Dire Straits and U2 (pictured)
In 2016 he sold the firms to Apple for $3 billion and he became the executive force for the launch of Apple Music and Beats 1.
He left this post in 2018 and has since dedicated his time to smaller passion projects.
He will use the funds from the Hipgnosis acquisition to build a high school in inner-city Los Angeles.
Hipgnosis founder Merck Mercuriadis says he is a major fan of lovine's work and he applauded the producer's philanthropic work.
Looking ahead, he says his firm has 'an incredible pipeline and [we] are very excited for 2021'.
The Canadian-born music industry executive started the investment business with Chic's Nile Rodgers after years of managing a vast roster of platinum-selling bands and solo artists like Guns 'n' Roses, Iron Maiden, Beyonce, and Morrissey.
After years of working with platinum-selling musicians like Iron Maiden, Canadian-born Merck Mercuriadis (right) co-founded Hipgnosis with songwriter Nile Rodgers of Chic (left)
His fund co-owns four of the Top Five Billboard Songs of the 2010s: Mark Ronson's Uptown Funk, Ed Sheeran's Shape of You, Closer by electronic duo The Chainsmokers, and Maroon 5's Girls Like You.
The group's financial success is partly predicated on the belief that earnings from songs will remain strong because people will always want to listen to music regardless of broader economic circumstances.
'While we would not have wished for a pandemic to demonstrate this, it has indeed done exactly that, and that has been reflected in our strong performance,' Mercuriadis commented.
Hipgnosis sometimes buys royalty rights directly from musicians. In August, they bought all of Barry Manilow's worldwide recording royalties as well as the 197-song catalogue of new wave band Blondie.
Last year, Leeds-based rock group Kaiser Chiefs also traded the master rights to their first four albums, along with their greatest hits and live albums, which include their popular singles Ruby, Modern Way, and I Predict a Riot
with 259 songs from artists including U2, Patti Smith and Tom Petty
The portfolio includes 259 songs along with lovine's royalties for the film '8 Mile'
Hipgnosis is co-founded by a former manager of Elton John
It has already invested almost £1.2billion in procuring over 110 catalogues
lovine will use funds from the acquisition to build a high school in inner-city LA
By SADIE WHITELOCKS FOR MAILONLINE
PUBLISHED 4 January 2021
American music producer Jimmy lovine
Music rights investment fund Hipgnosis Songs has snapped up the entire back catalogue from renowned producer Jimmy lovine for an undisclosed sum.
The portfolio includes 259 songs, from artists including Patti Smith, Tom Petty, Dire Straits and U2, along with lovine's film production royalties for '8 Mile' and 'Get Rich or Die Tryin'.
This is the latest move for Hipgnosis, co-founded by a former manager of Elton John, and it has already invested almost £1.2billion in procuring over 110 catalogues that count songs from artists such as Fleetwood Mac, Blondie, and the Kaiser Chiefs.
Many of those catalogues were purchased in the period covering its latest half-year results, which were published in December 2020 and showed its revenues almost doubling from £22.6million to £44.8billion in the six months to the end of September.
During that time, it raised £426million from two placings in July and September and obtained 63 new catalogues.
In the run up to Christmas the music fund celebrated chart success, as Mariah Carey's song 'All I Want for Christmas Is You' made it to number one in the UK charts for the first time in its history. Hipgnosis only acquired rights to the festive hit in September and it remains the most popular Christmas song on Spotify.
The deal with lovine will further bolster the company's portfolio.
Lovine rose to prominence as an engineer working with John Lennon and Bruce Springsteen before exploring the role of producer.
He produced Patti Smith's critically acclaimed, 'Easter' in 1978 and the UK Top 5 hit single 'Because The Night'. Following on from this success, he went on to work with dozens of artists.
Moving away from production Iovine co-founded Interscope Records in 1990 which saw him become one of the most prominent figures in the music industry, developing the careers of Tupac, Dr Dre, Eminem, 50 Cent, Nine Inch Nails, Black Eyed Peas, Lady Gaga and many more.
He went on to co-produce the box office hit '8 Mile' in 2002 starring Eminem which grossed over $240 million and sold over 15 million copies globally.
Adding another string to his bow, lovine co-founded Beats Electronics and Beats Music with Dre in 2008.
He went on to co-produce the box office hit '8 Mile' in 2002 starring Eminem which grossed over $240 million and sold over 15 million copies globally.
Adding another string to his bow, lovine co-founded Beats Electronics and Beats Music with Dre in 2008.
Lovine's portfolio includes 259 songs, from artists including Patti Smith, Tom Petty, Dire Straits and U2 (pictured)
In 2016 he sold the firms to Apple for $3 billion and he became the executive force for the launch of Apple Music and Beats 1.
He left this post in 2018 and has since dedicated his time to smaller passion projects.
He will use the funds from the Hipgnosis acquisition to build a high school in inner-city Los Angeles.
Hipgnosis founder Merck Mercuriadis says he is a major fan of lovine's work and he applauded the producer's philanthropic work.
Looking ahead, he says his firm has 'an incredible pipeline and [we] are very excited for 2021'.
The Canadian-born music industry executive started the investment business with Chic's Nile Rodgers after years of managing a vast roster of platinum-selling bands and solo artists like Guns 'n' Roses, Iron Maiden, Beyonce, and Morrissey.
After years of working with platinum-selling musicians like Iron Maiden, Canadian-born Merck Mercuriadis (right) co-founded Hipgnosis with songwriter Nile Rodgers of Chic (left)
His fund co-owns four of the Top Five Billboard Songs of the 2010s: Mark Ronson's Uptown Funk, Ed Sheeran's Shape of You, Closer by electronic duo The Chainsmokers, and Maroon 5's Girls Like You.
The group's financial success is partly predicated on the belief that earnings from songs will remain strong because people will always want to listen to music regardless of broader economic circumstances.
'While we would not have wished for a pandemic to demonstrate this, it has indeed done exactly that, and that has been reflected in our strong performance,' Mercuriadis commented.
Hipgnosis sometimes buys royalty rights directly from musicians. In August, they bought all of Barry Manilow's worldwide recording royalties as well as the 197-song catalogue of new wave band Blondie.
Last year, Leeds-based rock group Kaiser Chiefs also traded the master rights to their first four albums, along with their greatest hits and live albums, which include their popular singles Ruby, Modern Way, and I Predict a Riot
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