TIDMSONG
RNS Number : 5597X
Hipgnosis Songs Fund Limited
20 December 2019
20 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 Savan Kotecha, an
Indian-American songwriter and producer whose songs have been
nominated for 17 Grammy Awards and who has just been named Music
Week's "Songwriter Of The Year" for 2019.
Savan Kotecha has achieved huge commercial and critical success
having been awarded nine BMI Awards and 18 ASCAP awards whilst his
songs have sold more than 375 million copies globally as he has
collaborated - often with Max Martin - on Number 1 and platinum
hits with Ariana Grande, One Direction, Usher, The Weeknd, Justin
Bieber, Nicki Minaj, Britney Spears and Katy Perry. In addition his
work with The Weeknd has received particularly wide critical
acclaim and includes co-writing the two times Grammy Award
nominated US Number 1 'Can't Feel My Face' which has been certified
7x platinum in the US.
Savan Kotecha is best known for his work with Ariana Grande, the
fourth most streamed artist on Spotify of the 2010s. Since
initially producing Ariana Grande's second album 'My Everything',
which reached Number 1 in the US where it was certified 2x
platinum', as well as co-writing the 6x US platinum certified lead
single 'Problem', Savan Kotecha worked as executive producer on her
third album, the UK Number 1 'Dangerous Woman' as well as
collaborating on 13 US or UK Number 1 or platinum certified
singles. The catalogue includes four songs co-written by Savan
Kotecha from Ariana Grande's critically acclaimed album 'Sweetener'
which won the Grammy Award for "Best Pop Vocal Album", reached
Number 1 of the album charts in 22 countries including the US and
UK going on to be declared by Billboard as the Number 1 album of
2018 and one of the top albums of the 2010s and is certified
platinum in the US. These included the album's first single 'No
Tears Left to Cry' which reached Number 1 on 14 charts globally and
is certified 3x platinum in the US and 2x platinum in the UK having
been streamed over 780 million times on Spotify alone, as well as
the singles 'God Is A Woman' and 'Breathin'. 'God Is A Woman',
which was nominated for the Grammy Award for "Best Pop Solo
Performance", reached Number 1 on four charts globally and is
certified 2x platinum in the US and platinum in the UK having been
streamed over 510 million times on Spotify alone, whilst 'Breathin'
reached Top 10 of 18 charts globally and is certified gold in the
UK having been streamed over 380 million times on Spotify. The
Catalogue also includes four songs on her fifth album 'Thank U,
Next' which has been nominated for "Album of the Year" and "Best
Pop Vocal Album" at the Grammy Awards and reached Number 1 in 15
countries including the US where it is certified platinum. This
included the single 'Break Up with Your Girlfriend, I'm Bored'
which reached Number 2 in the US and Number 1 in the UK where it is
certified platinum and has been streamed over 483 million times on
Spotify alone.
The Catalogue also includes Camila Cabello's 'My Oh My' from her
new Number 1 album 'Romance', Ellie Goulding's 'Close To Me', Diplo
and Swae Lee which is gold and platinum globally, James Arthur's
'Naked' which has been streamed over 300 million times on Spotify,
Sam Smith's 'How Do You Sleep' which peaked at Number 7 on the UK
singles chart and is certified gold in both the US and UK and The
Weeknd's 'Rockin" which reached Number 4 in the UK R&B chart as
well as songs performed by Katy Perry, Justin Timberlake and Gwen
Stefani.
Hipgnosis has acquired 100% of Savan Kotecha's worldwide
copyrights on this Catalogue which consists of 49 of his songs and
includes nine new songs due for release in 2020 by Camila Cabello,
Ellie Goulding and Sam Smith.
Savan Kotecha was represented by Doug Davis at The Davis
Firm.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"Savan is a special songwriter with a Midas touch. His magical
songs have helped propel Ariana Grande into one of the most
influential artists of her generation. This is a sensational set of
songs and bear out why he's just been voted Songwriter Of The Year
for 2019. I'm delighted to welcome Savan into the Hipgnosis family
and am very excited to be working with him and Doug Davis."
Savan Kotecha said:
"I'm beyond excited for my songs to join the incredible
Hipgnosis catalogue. I know my 'babies' will be well taken care of.
Merck and his team have proven that they are true lovers of music
and understand not just the monetary value of songs but the
cultural value as well. I can't wait to see what the future
holds!"
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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