TIDMSONG
RNS Number : 5424X
Hipgnosis Songs Fund Limited
05 May 2021
5 April 2021
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited, the first 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 a catalogue from Andrew Wotman, better
known as Andrew Watt or just simply Watt, the just awarded 2021
Grammy winner for "Producer Of The Year" for his work with Miley
Cyrus, Dua Lipa, Post Malone and Ozzy Osbourne. Watt has co-written
five of the Top 100 most streamed songs of all time with Señorita
by Shawn Mendes and Camila Cabello (9th), Havana by Camila Cabello
featuring Young Thug (16th), Let Me Love You by DJ Snake featuring
Justin Bieber (42nd), Eastside by Benny Blanco, Halsey and Khalid
(83rd) and Youngblood by 5 Seconds of Summer (88th).
Andrew Watt started his professional music career as a guitarist
for other artists including Justin Bieber before founding rock
band, California Breed, in 2013. The band's single self-titled
album was well-received, topping the UK Rock & Metal Albums
Chart and reaching Number 26 on the UK Albums Chart. In 2015, his
friendship with Justin Bieber acted as a catalyst for Watt to start
writing and producing with Bieber alongside his solo work,
releasing his solo EP Ghost In My Head in 2016.
Since 2015, Watt has been one of the most successful and
influential rising writers and producers with key hits
including:
-- Señorita by Shawn Mendes and Camila Cabello, which having
been streamed 1.74 billion times is the 9th most streamed song of
all time as well as the third best-selling single worldwide of
2019. Señorita reached Number 1 on the US Billboard Hot 100, as
well as 35 other countries, and is certified multi-platinum in 13
countries. The single has won an American Music Award, two MTV
Video Music Awards, a People's Choice Award, and received a
nomination at the Grammy Awards for "Best Pop Duo/Group
Performance".
-- Havana by Camila Cabello, featuring Young Thug, is the 16th
biggest streaming song of all time, with over 1.56 billion streams.
Havana reached Number 1 in seven countries including the UK and the
US, where it is 3x and 9x platinum respectively, and was the
best-selling digital single of 2018, with over 19 million units
sold worldwide.
-- Let Me Love You, by DJ Snake featuring Justin Bieber, which
has been streamed 1.35 billion times making it the 42nd most
streamed song of all time. Watt's breakthrough success, Let Me Love
You debuted at Number 12 on the Billboard Hot 100, reached the Top
5 of the UK and US singles charts and was certified at least
platinum in 15 countries, including the UK and US where it is 4x
platinum.
-- Eastside by Benny Blanco, Halsey and Khalid has been streamed
1.13 billion times making it the 83rd most streamed song of all
time. As well as reaching Number 1 in the UK, Eastside is certified
at least platinum in nine countries including the US where it is 4x
platinum.
-- Youngblood by 5 Seconds of Summer has been streamed 1.11
billion times and is the 88th most streamed song of all time.
Youngblood reached the Top 10 in 11 countries including the US and
UK and its official videos have a combined 320 million views on
YouTube.
-- It Ain't Me by Kygo and Selena Gomez was a Top 10 hit all
over the world and is certified platinum in 16 countries, including
the UK and US where it is 3x platinum.
-- Wolves by Selena Gomez and Marshmello reached the Top 10 in
19 countries and has been certified platinum in 15 countries
worldwide, including the UK and US where it is 2x platinum. Wolves
was also the second-most successful electronic song of 2018 in the
US.
Andrew Watt has also written and produced hit songs for a host
of global talent including: Avicii, with his US platinum certified
Lonely Together featuring Rita Ora; The Chainsmokers, with their US
platinum certified Call You Mine featuring Bebe Rexha; Ellie
Goulding, with her US 2x platinum Hate Me with Juice Wrld; and Rita
Ora, with her UK 2x platinum Anywhere.
Whilst not part of the current catalogue acquired as part of the
acquisition, Hipgnosis has a Matching Right on the following recent
hits Watt is responsible for, as well as future songs:
-- Take What You Want by Post Malone with Ozzy Osbourne and
Travis Scott, which reached Number 8 on the Billboard Hot 100 and
has been streamed more than 1 billion times across all services. It
was included along with Die For Me, featuring Future and Halsey, on
Post Malone's Hollywood Bleeding album which was multi-platinum all
over the world, including Number 1 in both the UK and US amongst 12
other countries.
-- In the last 12 months, Watt has co-written four UK Top 10 and
US Top 15 singles including Midnight Sky by Miley Cyrus, Prisoner
by Miley Cyrus featuring Dua Lipa, Break My Heart by Dua Lipa and
Anyone by Justin Bieber.
-- Watt also co-wrote and produced five songs on Justin Bieber's
new album, Justice, which has been Number 1 all over the world.
Andrew Watt was represented by manager Scooter Braun at SB
Projects and attorney Doug Mark.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"It is amazing to be welcoming Watt to the Hipgnosis Family just
as he has been awarded the "Producer Of The Year" Grammy for his
work with Miley Cyrus, Post Malone et al, and as he has been Number
1 all over the world with Justin Bieber. He is arguably the most
important writer and producer in the world today and I don't use
those words lightly. Watt and Scooter are an incredibly important
part of our future."
Andrew Watt said:
"Joining the Hipgnosis family was a no brainer for me. Merck is
one of the most passionate people about music I have ever
met...every conversation we have ever had starts with 30 minutes on
The Ramones or The Clash...and then we meet at the record store to
dig through the crates and talk shop...he is in the process of
changing the game for songwriters. He leads his company by putting
the creators first."
Scooter Braun said:
"Andrew is one of the most groundbreaking producers and
songwriters of our time, and I've had the honor to have a front row
seat to so many of his record-breaking achievements in the
industry. His talent and creative process is unparalleled and we
look forward to what the future holds in this new partnership with
Merck."
Catalogue Playlists:
Spotify
https://open.spotify.com/playlist/2pXGriWlQwKZGC1KtFZeR6?si=oRtlbAv8R9CegCYZKSh2Lg
Apple
https://music.apple.com/gb/playlist/andrew-watt-highlights/pl.u-qxylK2lC3k86Kmj
Key Catalogue Information:
Catalogue Andrew Watt's catalogue until mid-2019
Copyright acquired Publishing and Writers Share of Income
Number of Songs 105
Accolades Number 1s Top 10s
135 424
--------
Revenue History 2017 2018 2019
$'000 $'000 $'000
------ ------
1,274 3,409 4,338
------ ------
Revenue mix Mechanical Performance Streaming Sync Writer's
by source* Share
5% 20% 24% 3% 46%
------------ ---------- ----- ---------
Revenue mix US Rest of World
by geography 59% 41%
--------------
Revenue diversification Top 3 Songs Top 5 Songs Top 10 Songs
41% 58% 81%
------------ -------------
Top 5 Songs Song Artist
by revenue Youngblood 5 Seconds of Summer
----------------------------
Señorita Shawn Mendes and Camila
Cabello
----------------------------
Havana Camila Cabello
----------------------------
It Ain't Me Kygo and Selena Gomez
----------------------------
Wolves Selena Gomez and Marshmello
----------------------------
*Based on the catalogue's royalty statement revenue in the
calendar year 2019
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 / Amanda 3000
Gray (Corporate 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)
RBC Capital Markets - Joint Corporate Tel: +44 (0)20 7635
Broker 4000
Elliot Thomas / Max Avison / Lauren
Davies (Corporate Finance)
Lisa Tugwell (Sales)
Ocorian - Company Secretary & Administrator Tel: +44 (0) 28 9693
Lorna Zimny 0222
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 GBP1.1
billion (gross equity capital) through its Initial Public Offering
on 11 July 2018, and subsequent issues in April 2019, August 2019,
October 2019, July 2020, September 2020 and February 2021. 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, and in March 2020 became a constituent of the FTSE 250
Index. As of 1 April 2021, the Company will be treated as being
resident in the UK for tax purposes and is recognised as an
investment trust under applicable HMRC regulations.
About The Family (Music) Limited
The Company's Investment Adviser is The Family (Music) Limited,
which was founded by Merck Mercuriadis, manager or former manager
of globally successful recording artists, such as Nile Rodgers,
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 A. Stewart, Bill Leibowitz, Ian Montone, Rodney
Jerkins, Björn Lindvall and Chris Helm.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQAIMBTMTMMTFB
(END) Dow Jones Newswires
May 05, 2021 02:00 ET (06:00 GMT)
Hipgnosis Songs (LSE:SONG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hipgnosis Songs (LSE:SONG)
Historical Stock Chart
From Jul 2023 to Jul 2024