TIDMSONG
RNS Number : 7267Y
Hipgnosis Songs Fund Limited
11 September 2020
11 September 2020
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogues
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 the music catalogue of
Chrissie Hynde, founding member, lead vocalist and primary song
writer of pioneering rock band The Pretenders.
Chrissie Hynde is widely regarded as one of the most important,
influential and iconic singer songwriters of all time.
With The Pretenders, Chrissie Hynde wrote a catalogue of
timeless hit songs which both remain popular and continue to be
covered by new artists to this day including 'Brass in Pocket',
'Talk of the Town', 'Message of Love', 'Back on the Chain Gang',
'Middle of the Road', '2000 Miles', 'Don't Get Me Wrong', 'My Baby'
and 'I'll Stand By You'.
Forming in 1978 The Pretenders immediately achieved commercial
and critical success with their self-titled debut album reaching
Number 1 of the UK Albums Chart the week of its release. The album
is widely regarded as one of the greatest debut albums of all time
and has achieved commercial success in both the UK, reaching Number
1 for four consecutive weeks, and the US where it is certified
platinum. The album included the single 'Brass in Pocket' which was
The Pretenders first UK Number 1 single in 1980.
The Pretenders have in total released 11 albums including, the
just released, 'Hate For Sale'. After the success of their debut, a
further four of them albums are platinum or gold certified
including 'Pretenders II', which reached the Top 10 in both the UK
and US albums chart; 'Learning to Crawl', which included the hit
lead single '2000 Miles' and 'Middle Of The Road'; 'Get Close'
which included two US Number 1 Mainstream Rock singles with 'Don't
Get Me Wrong' and 'My Baby'; and 'Last Of The Independents' which
included the group's most streamed single 'I'll Stand By You'.
Chrissie Hynde has written some of the most progressive and
influential songs in the rock world for The Pretenders
including:
-- 'Brass in Pocket' which was the band's first UK Number 1 in
1980 and has been streamed over 200 million times.
-- 'Back on the Chain Gang', which has been streamed over 150
million times and was The Pretender's biggest US hit reaching
Number 5 on the Billboard Hot 100 and Number 4 on Billboard's Hot
Mainstream Rock Tracks chart. The Song was covered by legendary
British singer songwriter Morrissey in 2008 calling the song "a pop
classic, of the brain as well as the loins".
-- 'Don't Get Me Wrong', which has been streamed over 150
million times and was the group's second Top 10 hit on the
Billboard Hot 100 as well as reaching Number 1 on the Billboard
Mainstream Rock charts. The song was also a UK Top 10 hit in the
singles chart.
-- Their hit Christmas Song '2000 Miles' which has been streamed over 100 million times.
-- 'I'll Stand by You' which reached the Top 20 in several
countries and has been streamed over 250 million times. 'I'll Stand
By You' re-entered the charts with Girls Aloud in 2004, reaching
Number 1 in the UK, and with American country singer Carrie
Underwood, reaching Number 6 of the Billboard Hot 100.
Chrissie Hynde continues to release incredible albums and to
tour globally with The Pretenders, performing these timeless hits
to their ever-growing and evolving fan base. Whilst their tour
schedule for May 2020 has been postponed due to COVID-19 certain
dates have been rescheduled to September 2021.
Hipgnosis have acquired 100% of Chrissie's music publishing
catalogue of 164 songs including Publishing and Writer's Share
(PRS) from the Pretenders and her other projects.
Chrissie Hynde was represented by manager Ian Grenfell at
Quietus Management , lawyer Andrew Myers at Clintons and accountant
Pat Savage at YMU.
Merck Mercuriadis, Founder of Hipgnosis Songs Fund Limited and
The Family (Music) Limited, said:
"This is very personal for me. Chrissie is one of my favorite
songwriters of all time and The Pretenders are one of my favorite
bands of all time. Her importance cannot be over estimated and she
has been a powerful role model for women and men all over the globe
for 40 years. I'm proud to say I have been a vegetarian, now vegan
for 35 years thanks to the influence of Chrissie and as a result I
have four grown children that have never had meat pass through
them. That's the power of great songs and music when combined with
genuine integrity. She has this powerful effect on her audience
which is why they remain so devoted and committed after 40 years
and why new generations of fans are constantly attracted to her.
I'm delighted to welcome her and her wonderful songs to the
Hipgnosis family."
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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