TIDMSONG
RNS Number : 8906W
Hipgnosis Songs Fund Limited
24 August 2020
24 August 2020
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited, the first and only UK
listed investment company offering investors a pure-play exposure
to songs and associated intellectual property rights, and its
Investment Adviser, The Family (Music) Limited, are pleased to
announce that the Company has acquired 50% of the copyright
interest and writers share in the song catalogue of one of the most
influential hip hop artists, songwriters and producers of all time,
and leader of immensely successful Wu-Tang Clan, Robert 'RZA'
Diggs.
Having co-written and produced almost all of Wu-Tang Clan's
albums, as well as many of the solo albums released by the group's
members, RZA is widely regarded as one of the greatest producers of
all time. Recognised for his highly influential writing and
production style, RZA was listed by Vibe magazine as one of the top
8 greatest hip hop producers of all time, and NME placed him on
their list of the "50 Greatest Producers Ever".
In 1992, RZA formed a group that is considered to be the
greatest hip hop band of all time, Wu-Tang Clan. The group released
their debut album 'Enter the Wu-Tang (36 Chambers)' in 1993, which
became greatly influential in modern hip hop production, with the
lyrics serving as a template for many subsequent hip hop records.
The hard-core hip hop album influenced the work of several artists
including Nas, The Notorious B.I.G. and Jay-Z. The album was
certified triple platinum and is widely regarded as one of the most
significant albums of the 1990s, as well as one of the greatest hip
hop albums of all time.
During the following years, RZA co-wrote and produced a number
of highly successful solo albums for the group members including
'Tical' by Method Man which featured single 'All I Need', winner of
the "Best Rap Performance by a Duo or Group" at the 1995 Grammy
Awards. The remix 'You're All I Need To Get By' with Mary J. Blige
was a UK Number 10 and US Number 3 hit. He produced Ol' Dirty
Bastard's album 'Return to the 36 Chambers: The Dirty Version',
released in 1995, and considered a hip hop classic; Raekwon's debut
album 'Only Built 4 Cuban Linx...' which featured Nas; GZA's debut
album 'Liquid Swords' in 1995; and Ghostface Killah's 'Ironman' in
1996 which is widely considered to be one of the best of the
Wu-Tang Clan members' solo albums. All of these albums were Top 5
in the US and highly influential.
The second Wu-Tang Clan album 'Wu-Tang Forever' was released in
1997, and debuted at Number 1 on the Billboard 200 chart, with
612,000 copies being sold in its first week as well as Number 1 in
the UK. The album was certified 4x platinum in the year of release
and earned a Grammy Award nomination for "Best Rap Album" in 1998.
The group reconvened to make double platinum certified third studio
album, 'The W', which was released in 2000 and featured the hit
single 'Gravel Pit' which was listed by NME on "150 Best Tracks of
the Past 15 Years". The following year, Wu-Tang Clan released their
fourth album, the gold certified 'Iron Flag'.
In 2009, RZA co-produced Raekwon's sequential solo album 'Only
Built 4 Cuban Linx...Pt. II' with Dr. Dre among others. The album
debuted at Number 4 on the Billboard 200. RZA went on to work with
Kanye West as one of the producers of his fifth studio album 'My
Beautiful Dark Twisted Fantasy' which was released in 2010. He also
worked on West and Jay-Z's collaborative studio album 'Watch the
Throne', which was a Number 1 success all over the world, producing
the track 'New Day'. Wu Tang-Clan's sixth studio album 'A Better
Tomorrow' was released in 2014.
RZA has released four solo studio albums, his first being gold
certified 'Bobby Digital in Stereo' in 1998. This was followed by
the first album's sequel, 'Digital Bullet' in 2001, and 'Digi
Snacks' in 2008, both of which were released under his alter-ego,
Bobby Digital, as well as 'Birth of a Prince' in 2003 which was
released by RZA as himself. All four of his solo albums were ranked
on the US Billboard 200 chart following release.
All of RZA's works combined have more than 3 billion streams
worldwide.
RZA was represented in the transaction by long-time manager
Tyler Childs at Forward Artist Management and attorney Tim
Mandelbaum at Fox Rothschild.
Hipgnosis has acquired 50% of RZA's worldwide copyrights,
including publishing and writer share, in his Catalogue comprising
814 songs.
Merck Mercuriadis, Founder of Hipgnosis Songs Fund Limited and
The Family (Music) Limited, said:
"RZA and the Wu Tang Clan did not invent Hip Hop but they took
it from being fun to something that represented a true reflection
of what the streets, and being black in America was really like.
They were and are the most authentic band and brand in Hip Hop and
it all starts with RZA's vision, his songs and his struggle,
manifested in music, that could show the entire world what was
really going on. He is now globally recognized as a true
renaissance man of Hip Hop and most would argue that he is the
goat."
RZA said:
"I wear various hats in my artistic expressions but the one that
has been so deeply reflective of my life's journey is my
songwriting. I'm honoured to partner up with Merck and the
Hipgnosis team to usher my songs into an exciting future."
Tyler Childs said:
" Merck and Hipgnosis are true music people through and through.
RZA and I are thrilled to partner with them on these songs and
continue our long standing relationship with Merck."
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 / Jérémie Birnbaum
(Corporate Finance)
James Bouverat (Sales)
Ocorian - Company Secretary & Administrator Tel: +44 (0) 1481 742614
Mariana Enevoldsen
The Outside Organisation Tel: +44 (0)7711 081
Alan Edwards / Nick Caley 843
FTI Consulting Tel: +44 (0)7771 978220;
Neil Doyle/ Paul Harris/ Laura Ewart +44 (0)7809 411882;
+44 (0)7761 332646
All US music publicity enquiries
Fran Defeo +1 917 767 5255
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 GBP860
million (gross equity capital) through its Initial Public Offering
on 11 July 2018, and subsequent issues in April 2019, August 2019,
October 2019 and July 2020. 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, Jason Flom, Rodney Jerkins,
Bjorn Lindvall and Chris Helm.
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