Merck Mercuriadis’ Hipgnosis Songs has raised another $299.1m as its latest placement has been oversubscribed. It’s Hipgnosis’ biggest equity raise to date.
The company expects it will spend the net proceeds of the issue within three months.
“Our mantra is that proven songs produce predictable and reliable income and are a highly investable uncorrelated asset class that can rival gold,” Mercuriadis said.
“In line with our current performance we will do our utmost to continue to deliver strong results for our investors by buying extraordinarily successful proven songs by culturally important artists and managing them with great responsibility.
"At the same time we will use the influence of our great songs and financial wherewithal to bring reform to the way the songwriter is remunerated. The songwriter is unjustly at the bottom of the traditional music business economic equation; our intention is to take the songwriter to the top.”
UMG STANDS UP WITH MARLEYS ON TUFF GONG COLLECTIVE
Bob's daughter stirs it up. (4/20a)
CATALOG SONGS YTD:
"SUNFLOWER" AND ALL THE REST Post Malone, Fleetwood Mac and Juice WRLD on one chart. (4/20a)
HITS LIST: RULES
FOR ENTRY It's exclusive, but you're invited to come on in. (4/20a)
| ||
RHYTHM, BLUES AND THE FUTURE
The musical tapestry we know as R&B.
WHO'S NEXT?
Predicting the next big catalog deal.
JUST THE VAX, MA'AM
Once we all get vaccinated, how long before we can party?
WORLDWIDE GROOVE
How is globalization bringing far-flung territories into the musical mainstream?
|