Named one of the most influential songwriters in the world, Neil Young has secured a massive deal in the same of the rights to all of his hits. Young wrote lots of hits for himself and his bands in the 60’s and 70’s, amassing a library of over 1,150 songs which include the tunes of nearly 50 studio albums and additional live albums.
In a big financial move, Young has sold 50% rights to all of his music library to investment firm Hipgnosis Songs Fund. This sale nets an estimated fee of $150 million. Hipgnosis holds the assets of the song rights and builds revenue by allowing investors to invest in the hit songs.
The investment company was founded by Merck Mercuriadis who has been involved in the music industry for many years, previously a manager for superstars such as Beyonce and Elton John.
Adding Neil Youngs hits to an already star studded portfolio, Hipgnosis is already booming, as the revenue achieved from hit songs is not impacted by the economy.
This is an interesting move and a development within the music industry which is only likely to increase and become more popular. The intellectual property rights invested in works such as songs hold a strong value and this value is continuing to be recognised.
If you would like assistance securing your intellectual property rights, please get in touch with the Lawdit team today.