TIDMSONG
RNS Number : 9021H
Hipgnosis Songs Fund Limited
09 August 2021
9 August 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 Christine McVie, best
known as one of the principal writers and vocalists of one of the
most successful bands of all time, Fleetwood Mac.
Christine McVie made two UK Top 20 albums with 'Chicken Shack',
her debut solo album, 'Christine Perfect', and featured heavily on
Fleetwood Mac's 'Mr Wonderful', 'Then Play On' and 'Kiln House',
before joining the band permanently in 1970. Between 1971 and 1974,
she wrote and sang on five albums for the band, including the
platinum certified 'Bare Trees' as well as the gold certified
'Future Games' and 'Mystery to Me'.
In 1975, Lindsey Buckingham and Stevie Nicks joined Christine
McVie and other existing members of Fleetwood Mac, Mick Fleetwood
and John McVie, to create the most famous and most consistent
version of the iconic band. Their first album together, the
self-titled 'Fleetwood Mac', reached Number 1 on the US Billboard
200 chart and launched the band to musical super-stardom. Christine
McVie wrote five songs on 'Fleetwood Mac' including the two Top 20
singles, Over My Head and Say You Love Me . Since its release, the
album has been certified 7x platinum in the US and was ranked 182nd
by Rolling Stone Magazine on their "The 500 Greatest Albums of All
Time" chart. In total, five of this album's 11 songs were written
by Christine McVie.
Fleetwood Mac's follow up album, 'Rumours', became one of the
bestselling albums of all time having sold over 45 million copies
worldwide. An instant commercial success, 'Rumours' sold over 10
million copies worldwide in the month following its release and won
"Album of the Year" at the 1978 Grammy Awards. The album was named
by Rolling Stone Magazine as the seventh greatest album of all
time, has been certified 2x diamond in the US and Canada, as well
as 14x platinum in the UK. 'Rumours' produced four Top 10 singles,
including Christine McVie's Don't Stop , which reached Number 3 in
the US, and You Make Loving Fun, which reached Number 9 in the US.
Both have been streamed more than 1 billion times each across all
services. 'Rumours' also included the iconic hit The Chain, which
was co-written by Christine McVie and has also been streamed more
than 1 billion times globally. In total, five of this album's 11
songs were written by Christine McVie.
In 1979, Christine McVie wrote six songs on Fleetwood Mac's
multi-platinum double album 'Tusk', including the Top 20 single
Think About Me. ' Tusk' , which reached Number 1 in the UK and Top
5 in seven countries including the US, has been named by NME in
their list of "The 500 Greatest Albums of All Time", and has sold
over 4 million copies worldwide.
In 1982, Fleetwood Mac released 'Mirage', which sold over 2
million copies in the US alone and was platinum or gold worldwide.
Christine McVie wrote four of the album's 12 songs, including the
singles Hold Me, which reached Number 4 in the US, and Love In
Store which made Number 22.
In 1987, Fleetwood Mac released 'Tango in the Night', which sold
over 15 million copies worldwide making it Fleetwood Mac's
bestselling album since 'Rumours'. 'Tango in the Night' featured
four US Top 20 singles, including Christine McVie's Little Lies,
which reached Number 4 in the US and is multi-platinum certified,
and Everywhere, which reached Number 4 in the UK, both of which
have been streamed over 1 billion times globally. In total, five of
this album's 12 songs were written by Christine McVie.
With Fleetwood Mac, Christine McVie achieved further global
success with the multi-platinum certified and the UK Number 1
album, 'Behind The Mask', in addition to their Greatest Hits and
live albums 'Live', 'Greatest Hits' and 'The Dance'. In total,
eight of the 16 songs on 'Greatest Hits' are Christine McVie's
songs, including its single, As Long As You Follow, and it is one
of the most successful compilation albums of all time. It is
certified 8x platinum in the US, 9x platinum in Australia and at 3x
platinum in the UK. Six Christine McVie songs are included on the
US Number 1 live album 'The Dance', which is certified 5x platinum
in the US. The recent 40th Anniversary Deluxe Edition of 'Live'
includes 11 Christine McVie songs out of 33.
In 1998, as a member of Fleetwood Mac, Christine McVie was
inducted into the Rock and Roll Hall of Fame and received the Brit
Award for "Outstanding Contribution to Music". In addition,
Christine McVie has been awarded a Gold Badge of Merit Award from
The Ivors Academy and the "Ivor Novello Award for Lifetime
Achievement" from the British Academy of Songwriters, Composers and
Authors.
Throughout her history, Christine McVie made two further solo
albums: 'Christine McVie' in 1984, which included two US hit
singles Got A Hold On Me, which reached Number 10, and Love Will
Show Us How, which reached Number 30. The album made Number 26 on
the Billboard Top 200. This was followed twenty years later by 'In
The Meantime'. In 2017, she reunited with Lindsey Buckingham for
'Lindsey Buckingham Christine McVie' which debuted on the UK Album
chart at Number 5 and the Billboard Top 200 in the US at Number 17.
The album has been certified silver in the UK.
Combined with its acquisition from Lindsey Buckingham, Hipgnosis
now owns the song copyrights and writers share for 7 of 11 songs on
'Fleetwood Mac', 8 of 11 songs on 'Rumours', 15 of 20 songs on
'Tusk', 9 of 12 songs on 'Mirage', 9 of 12 songs on 'Tango In The
Night', 11 of 16 songs on 'Greatest Hits', and 12 of 17 songs on
'The Dance'.
Christine McVie was represented by Business Manager Paul Glass
at The Colony Group, Manager Martin Wyatt and Lawyer Mario
González.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
" Christine McVie is one of the greatest songwriters of all time
having guided Fleetwood Mac to almost 150 million albums sold and
making them one of the best-selling bands of all time globally. In
the last 46 years the band have had three distinct writers and
vocalists but Christine's importance is amply demonstrated by the
fact that eight of the 16 songs on the band's Greatest Hits albums
are from Christine. It's wonderful for us to welcome Christine to
the Hipgnosis Family and particularly wonderful to reunite her once
again at Hipgnosis with Lindsey Buckingham. Between Christine and
Lindsey we now have 48 of 68 songs on the band's most successful
albums. "
Christine McVie said:
" I am so excited to belong to the Hipgnosis family, and
thrilled that you all regard my songs worthy of merit. I'd like to
thank you all for your faith in me, and I'll do all I can to
continue this new relationship and help in any way I can! Thank you
so much!"
Catalogue Playlists:
Spotify
https://open.spotify.com/playlist/2SedojuM3brrnjyVTz9dxt?si=888e784311e04ea1
Apple
https://music.apple.com/gb/playlist/christine-mcvie-catalogue/pl.u-55D6PmyS6RPJ45N
Key Catalogue Information:
Catalogue Worldwide copyright, ownership and financial
interest, including Writer's Share, of all
compositions and Neighbouring Rights
Copyright acquired 100%
Number of Songs 115
Number 1s Top 10s Grammys
Accolades 11 47 2
-------- --------
2018 2019 2020
Revenue History $'000 $'000 $'000
------ ------
1,588 1,721 1,709
------ ------
Revenue mix Mechanical Streaming Sync Writer's Neighbouring
by source* Share Rights
5% 10% 14% 51% 16%
---------- ----- -------- ------------
Revenue mix US Rest of World
by geography 48% 52%
--------------
Revenue diversification Top 3 Songs Top 5 Songs Top 10 Songs
65% 81% 91%
------------ -------------
Top 5 Songs Song Artist
by revenue Don't Stop Fleetwood Mac
--------------
Everywhere Fleetwood Mac
--------------
You Make Loving Fleetwood Mac
Fun
--------------
Songbird Fleetwood Mac
--------------
Little Lies Fleetwood Mac
--------------
*Based on the catalogue's royalty statement revenue in the
calendar year 2020
For further information, please contact:
The Family (Music) Limited Tel: +44 (0)1481
Merck Mercuriadis 742742
Singer Capital Markets - Joint Corporate Broker Tel: +44 (0)20
James Maxwell / James Moat / Amanda Gray / 7496 3000
Alaina Wong (Corporate Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales)
J.P. Morgan Cazenove - Joint Corporate Broker Tel: +44 (0)20
William Simmonds / Jérémie Birnbaum 7742 4000
(Corporate Finance)
James Bouverat (Sales)
RBC Capital Markets - Joint Corporate Broker Tel: +44 (0)20
Elliot Thomas / Max Avison (Corporate Finance) 7635 4000
Lisa Tugwell / Adam Robertson (Sales)
Ocorian - Company Secretary & Administrator Tel: +44 (0) 28
Lorna Zimny 9693 0222
The Outside Organisation Tel: +44 (0)7711
Alan Edwards / Nick Caley 081 843
FTI Consulting Tel: +44 (0)7771
Neil Doyle/ Paul Harris/ Laura Ewart 978220; +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 trust established to offer investors a
pure-play exposure to songs and associated musical intellectual
property rights. The Company has raised a total of almost GBP1.3
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, February 2021 and July
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. Since April 2021, the Company has been 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, 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, David A. Stewart,
Poo Bear, Bill Leibowitz, Ian Montone and Rodney Jerkins.
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