This Music Investment Firm Has Up Next
Gotta pay to play.
Wed Jul 11 2018 16:00:00 GMT+0000 (Coordinated Universal Time)
Hipgnosis Songs, a fairly new music investment fund, has been on a roll lately. If you've never heard of Hipgnosis Songs don't feel bad, a lot of people haven't. You'll definitely know about them soon, though. The company was founded by Beyoncé's former manager, Merck Mercuriadis, last year and hasn't looked back since its launch.
Hipgnosis Songs has a pretty straightforward plan -- buy the rights to a lot of popular music and hope it pays off in the long run.
It was just announced that the company paid $23 million to acquire 75% of The-Dream's music catalog. Not only does this include The-Dream's actual songs, but also the songs he has helped write over the years. Which, if we're being honest, has been some heat. Your average music fan probably doesn't realize how many hits The-Dream has written over the years. Including Beyoncé's "Single Ladies," Rihanna's "Umbrella," and even Jay-Z and Kanye West's "No Church in the Wild." The list goes on. Either way, when Hipnogsis made that deal, they realized they were getting the rights to way more than just "Falsetto" and "Rockin' That Thang."
Billboard reported that the company has Beyoncé, Adele, Kanye West, and Justin Bieber on their immediate radar of catalogs to look to acquire. Considering they've raised $260 million, they have a little bit of money to play with.