Hipgnosis Songs Fund Limited Acquisition of Music Catalogue (2310X)
December 18 2019 - 2:00AM
UK Regulatory
TIDMSONG
RNS Number : 2310X
Hipgnosis Songs Fund Limited
18 December 2019
18 December 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 songwriter,
producer and Snow Patrol keyboardist Johnny McDaid. Johnny has
co-written songs with Ed Sheeran, Pink, Shawn Mendes, Robbie
Williams and Snow Patrol that have streamed over 20 billion times
and earned over 600 platinum awards and 14 diamond awards.
Collaborating closely with Ed Sheeran since 2013, Johnny McDaid
co-wrote the most streamed song of all time with the record
breaking 'Shape Of You' which to date has been streamed over 2.3
billion times. In addition to winning a Grammy and an Ivor Novello
Award, 'Shape Of You' reached Number 1 on the singles chart in 34
countries including the US' Billboard Hot 100, where it remained
Number 1 for a record equalling 16 consecutive weeks and is
certified diamond in five countries including in the US. 'Shape of
You' has sold over 40 million singles and has had over 4 million
radio performances. Johnny McDaid also co-wrote 'Photograph' which
is the 13th most streamed song of all time with 1.3 billion streams
and is certified 4x platinum in the US and 3x platinum in the
UK.
Johnny McDaid co-wrote five songs on Ed Sheeran's 'x' album
which was nominated for two Grammy Awards, reached Number 1 in 15
countries including the UK, where it is the 20th best selling album
of all time having been certified 11x platinum and the US where it
is certified 4x platinum as well as co-writing and or producing
eight songs on his Grammy Award winning '÷' album which reached
Number 1 in 14 countries including the UK where it is certified 11x
platinum and the US where it is certified 4x platinum. These
include the US platinum and UK 3x platinum hit 'Galway Girl', the
US and UK platinum certified 'Tenerife Sea', the UK platinum
certified 'Supermarket Flowers', the UK platinum certified 'What Do
I Know?' and the UK Number 2 'Bloodstream'.
The Catalogue also includes Pink's Grammy Award nominated 'What
About Us' which is certified platinum in the US and UK and reached
Number 1 in nine countries, as well as songs by Robbie Williams,
Shawn Mendes, Keith Urban, Faith Hill and Tim McGraw, Example,
Rudimental, Biffy Clyro and Birdy.
Hipgnosis has acquired 100% of Johnny McDaid's interest in his
catalogue of songs released before 1 April 2019 which comprises 91
songs.
Johnny McDaid was represented by his manager Erik Eger, business
manager Kevin McCullough, lawyer Willie Ryan, and spearheaded by
attorney Michael Poster of Michelman and Robinson.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"It's hard to have some of the biggest songs in the world and
yet still be so underrated but Johnny is one of the most
extraordinary creators and his work with Ed and so many others
speaks for itself and it's an honour to welcome him and Erik to the
Hipgnosis family."
Erik Eger said:
"Merck's background as an artist manager enabled him to quickly
understand what was important to Johnny in this deal and deliver on
it. Johnny and I are encouraged by Merck's mission of advocating
for songwriters and wish him every success in this endeavor."
For further information, please contact:
The Family (Music) Limited Tel: +44 (0)1481 742742
Merck Mercuriadis
N+1 Singer - Joint Corporate Broker Tel: +44 (0)20 7496
James Maxwell / James Moat (Corporate 3000
Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales)
J.P. Morgan Cazenove - Joint Corporate Tel: +44 (0)20 7742
Broker 4000
William Simmonds / Ed Murray / Jérémie
Birnbaum (Corporate Finance)
James Bouverat / Eddie Nissen (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. The Company has raised a total of over GBP625
million (gross equity capital) through its Initial Public Offering
on 11 July 2018 and subsequent issues in April 2019, August 2019
and October 2019. In September 2019, Hipgnosis transferred its
entire issued share capital to the Premium listing segment of the
Official List of the FCA and to the London Stock Exchange's Premium
segment of the Main Market.
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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