TIDMSONG
RNS Number : 1635I
Hipgnosis Songs Fund Limited
07 August 2019
07 August 2019
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 Benny Blanco, an
American musician, songwriter and record producer who has written
29 Number 1 songs and is responsible for the sale of hundreds of
millions of albums worldwide.
Benny Blanco is one of the most important songwriters of the
last decade having consistently written and produced hit songs with
some of the biggest global pop-artists including Halsey, Ed
Sheeran, Justin Bieber, Maroon 5, Rihanna, Katy Perry, Kesha, Sia,
The Weeknd, Selena Gomez, Keith Urban, Tory Lanez, Wiz Khalifa,
Kanye West, J Balvin and Juice Wrld.
The Catalogue includes the Number 1 songs: 'Love Yourself' by
Justin Bieber; 'Cold Water' by Major Lazer featuring Justin Bieber
and MØ; 'Fire and the Flood' by Vance Joy; 'Same Old Love' by
Selena Gomez; 'Luv' by Tory Lanez; 'Don't Wanna Know' by Maroon 5
featuring Kendrick Lamar; and 'Freaky Friday' by Lil Dicky as well
as the Platinum and Multi-Platinum certified 'Castle on the Hill'
by Ed Sheeran; '2002' by Anne-Marie and 'Lonely Together' by
Avicii.
'Castle on the Hill', which was co-written and performed by Ed
Sheeran, was nominated for the 2018 Ivor Novello Award for 'Most
Performed Work' and has been certified as 4x Platinum in the UK and
3x Platinum in the US as well as being streamed over 750 million
times on Spotify alone.
'Love Yourself', which was co-written with Justin Bieber, Ed
Sheeran and Benny Blanco and produced by Benny Blanco, was the best
performing single in the Billboard Hot 100 in 2016. It reached
Number 1 in 15 countries including the UK and US where it was
certified 4x Platinum and 7x Platinum respectively.
'Cold Water' by Major Lazer featuring Justin Bieber and MØ,
reached Number 1 in the UK where it is certified 2x Platinum and
Number 2 in the US Billboard Hot 100 chart where it is certified 4x
Platinum. Globally it has achieved 25 Number 1 and 45 Top 10 chart
positions.
In addition to his commercial success, Benny Blanco has received
significant critical acclaim and was awarded the Hal David
Starlight Award by the Songwriters Hall of Fame in 2013. He has
also received the BMI 'Songwriter of the Year' award fives times,
won 'Producer of the Year' at the 2017 iHeart Radio awards as well
as being nominated for seven Grammy awards.
Hipgnosis has acquired 100% of Benny Blanco's copyright
ownership in this catalogue of songs released since 2015 which
comprises 93 songs achieving 65 Number 1 and 183 Chart positions
globally and which have been streamed over 10 billion times.
Benny Blanco was represented in the deal by Doug Mark, Andrew
Luftman, and Zvi Edelman.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"In a week when Benny is at Number 1 with Shawn Mendes and
Camilla Cabello it's fortuitous to have closed our deal and welcome
him to the Hipgnosis family. Benny's been having Number 1 songs for
the last 12 years now, 10 of them since 2015 alone. That longevity,
to be able to write Number 1 songs consistently for more than a
decade and to have made incomparable contributions to establishing
the most important artists of our time, is an almost impossible
feat. He has literally defined the modern pop era in a way that
very few others can lay claim to."
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. In its Subsequent Placing under its Placing Programme on
12 April 2019, the Company raised approximately GBP140m of further
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, Giorgio Tuinfort, Starrah, Nick Jarjour, David
Stewart, Bill Leibowitz, Ian Montone, and Jason Flom.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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