Neil Young performs at Festival d’ete de Quebec on July 6, 2018 in Quebec City, Canada.
Scott Legato | Getty Images Entertainment | Getty Images
Legendary people rocker Neil Young has bought 50% of his song catalog to the Hipgnosis Songs Fund, a U.Ok. investment car based by music trade veteran Merck Mercuriadis.
The deal offers Hipgnosis the rights to the worldwide copyright and earnings pursuits from 1,180 songs composed by Young, and has been reported to have price round $150 million.
“I bought my first Neil Young album aged 7. ‘Harvest’ was my companion and I know every note, every word, every pause and silence intimately,” former expertise supervisor Mercuriadis mentioned in a assertion Wednesday.
“Neil Young, or at least his music, has been my friend and constant ever since.”
Hipgnosis floated on the London Stock Exchange in 2018 and acquires music royalties with a view to producing earnings streams. On Tuesday, the fund introduced that it had acquired the entire catalog of Fleetwood Mac lead guitarist and vocalist Lindsey Buckingham.
It has additionally invested within the rights to songs from artists equivalent to Mark Ronson, Chic, Barry Manilow and Blondie.
Young has by no means licensed any of his songs for business use and Mercuriadis indicated that that is unlikely to change.
“I built Hipgnosis to be a company Neil would want to be a part of. We have a common integrity, ethos and passion born out of a belief in music and these important songs,” he mentioned.
“There will never be a ‘Burger Of Gold’ but we will work together to make sure everyone gets to hear them on Neil’s terms.”
This is a reference to Young’s vastly in style song “Heart of Gold,” from the Canadian singer-songwriter’s iconic 1972 album “Harvest.”
Last month, Universal Music Group bought Bob Dylan’s entire 600-song catalog.