Hipgnosis Songs Fund Limited Acquisition of Music Catalogue (5516H)
November 16 2018 - 2:00AM
UK Regulatory
TIDMSONG
RNS Number : 5516H
Hipgnosis Songs Fund Limited
16 November 2018
16 November 2018
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited and its Investment
Adviser, The Family (Music) Limited, are pleased to announce that
the Company has acquired a music catalogue from Jason Boyd, a
US-based songwriter and producer better known by his professional
name Poo Bear. Poo Bear has collaborated, and had Top 10 hits, with
some of the biggest artists over the last 20 years, including
Usher, David Guetta, DJ Khaled, Chris Brown, Fifth Harmony,
Jennifer Lopez and Skrillex, but is best known as one of Justin
Bieber's closest collaborators.
Poo Bear co-wrote 9 out of 13 songs on Bieber's hugely
successful album Purpose, which has sold over 14 million copies
worldwide and is one of the biggest selling albums in the UK at
over 5 times platinum (over 1.5 million copies sold). The catalogue
includes "What Do You Mean?", which has sold over 14 million copies
worldwide and has been Number 1 in more than 25 countries, "Where
Are You Now?", which has sold over 9 million copies, and most
significantly the English language version of Despacito, known as
"Despacito (Justin Bieber Remix)" by Luis Fonsi and Daddy Yankee,
which was Number 1 in over 50 countries and was the 2018 Grammy
Awards Song Of The Year and Record Of The Year as well as the
Billboard Music Awards Song Of The Year, and is tied for the
longest running Billboard Hot 100 #1 of all time.
The Company will acquire a 100% interest in the catalogue, which
comprises 214 songs in total, including all of the aforementioned
titles.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"It's fortuitous to be able to acquire a song catalogue of this
importance so early in its life. Poo Bear is an extraordinary young
man whose songs have not only been Number 1 and won Grammy Awards
but also have a long life in front of them. In a streaming world
that is growing every day his songs are at the forefront, Despacito
on its own was Number 1 in more than 50 countries and is one of
those truly rare songs that has united the globe. I'm delighted to
welcome him to the Hipgnosis Songs Family."
Poo Bear said:
"I'm extremely honoured and blessed to join forces with Merck,
Nile, The Dream and Hipgnosis. This is something I've been working
towards for 22 years and I finally feel confident and comfortable
that I'm doing this deal with the best company in the business.
It's beyond the money, it's the assurance that my catalogue will be
respected and taken to even greater heights of success."
For further information, please contact:
The Family (Music) Limited Tel: +44 (0)1481 742742
Merck Mercuriadis
N+1 Singer Tel: +44 (0)20 7496
James Maxwell / James Moat (Corporate 3000
Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales)
The Outside Organisation Tel: +44 (0)7711 081
Alan Edwards / Nick Caley 843
NOTES TO EDITORS
About Hipgnosis Songs Fund Limited
(www.hipgnosissongs.com)
Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey
registered investment company established to offer investors a
pure-play exposure to songs and associated musical intellectual
property rights. In its Initial Public Offering on the Specialist
Fund Segment of the London Stock Exchange's main market on 11 July
2018, the Company raised approximately GBP200m gross equity
capital.
About The Family (Music) Limited
The Company's Investment Adviser is The Family (Music) Limited,
which was founded by Merck Mercuriadis, former manager of globally
successful recording artists, such as Elton John, Guns N' Roses,
Morrissey, Iron Maiden and Beyoncé, and hit songwriters such as
Diane Warren, Justin Tranter and The-Dream, and former CEO of The
Sanctuary Group plc. The Investment Adviser has assembled an
Advisory Board of highly successful music industry experts which
include award winning members of the artist, songwriter,
publishing, legal, financial, recorded music and music management
communities, all with in-depth knowledge of music publishing.
Members of The Family (Music) Limited Advisory Board include Nile
Rodgers, The-Dream, Bill Leibowitz, Ian Montone, and Jason
Flom.
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contact rns@lseg.com or visit www.rns.com.
END
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