Hipgnosis Songs Fund Limited Acquisition of Music Catalogue (5547J)
August 20 2019 - 2:00AM
UK Regulatory
TIDMSONG
RNS Number : 5547J
Hipgnosis Songs Fund Limited
20 August 2019
20 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 The Chainsmokers,
the 14(th) most streamed artist globally on Spotify with 41 million
monthly listeners. In total, the songs in the catalogue have been
certified 20x Platinum and 2x Gold by the Recording Industry
Association of America (RIAA) and 9x Platinum and 2x Silver by the
British Phonographic Industry (BPI).
The Chainsmokers, an artist and producer duo made up of Alex
Pall and Andrew Taggart, have been the most consistently successful
pop artists of the last five years with 55 Number 1 and 245 Top 10
Chart positions globally as well as winning 'Best Dance Recording'
at the 2017 Grammy Awards, two American Music Awards, seven
Billboard Music Awards, and nine iHeart Radio Music Awards.
Their 2016 Grammy Award winning 'Don't Let Me Down' featuring
Daya, which reached Number 1 on the US Hot Dance/Electronic Songs,
is certified 6x Platinum in the US and has been streamed over 1.2
billion times.
Their hit single 'Closer' featuring Halsey, reached Number 1 on
the US Billboard Hot 100, where it stayed for 12 weeks, and went to
Number 1 on over 30 Charts worldwide. As well as winning the 'Top
100 Hot Song', 'Top Collaboration' and 'Top Dance/Electronic Song'
at the 2017 Billboard Music Awards; 'Dance Song of the Year' at the
2017 iHeart Radio Music Awards; and being nominated for the Best
Pop Duo/Group Performance at the 2017 Grammy Awards, 'Closer' has
been streamed 1.6 billion times as well as being certified Diamond
in the US.
Their other hit singles include: 'Roses'; 'Until You Were Gone';
'Inside Out'; 'All We Know'; 'Setting Fires'; 'Paris'; 'Something
Just Like This'; 'The One'; 'Honest'; 'Young'; 'Sick Boy'; 'You Owe
Me'; 'Everybody Hates Me'; and 'Somebody'.
The upcoming tour, 'World War Joy Tour', will run from September
through November 2019 and will feature all of the hits being
purchased within this acquisition.
Hipgnosis has acquired 100% of the Chainsmokers' interest
including ASCAP (American Society of Composers, Authors and
Publishers) income in their catalogue, which comprises 32
Chainsmokers' songs as well as 10 additional songs written by
Andrew Taggart, including "1-800-273-8255" by Logic featuring
Alessia Cara and Khalid which reached number 3 on the US Billboard
Hot 100 and was nominated for 'Song of the Year' at the 2018 Grammy
Awards.
The Chainsmokers were represented in the deal by manager Adam
Alpert and attorney Jaimie Roberts.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"The Chainsmokers are the highest paid duo in the world not only
because they know how to spin records better than anyone else but
because they have created amongst the very biggest hits in the
world for the dance and pop community over the last 7 years. This
is a set of songs that people can't stop playing and that will
define the lives of so many people that have grown up in the
2010's. It's my pleasure to welcome Alex, Drew and Adam to the
Hipgnosis Family!"
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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