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Hipgnosis Songs Fund Acquires Chainsmokers Music Catalogue
Thursday 22 August 2019

22 August 2019 - Guernsey-based investment company Hipgnosis Songs Fund Ltd. (LSE: SONG) has acquired a music catalogue from The Chainsmokers, the fund said.

The Chainsmokers, an artist and producer duo made up of Alex Pall and Andrew Taggart, have been the most consistently successful pop artists of the last five years with 55 Number 1 and 245 Top 10 Chart positions globally as well as winning 'Best Dance Recording' at the 2017 Grammy Awards, two American Music Awards, seven Billboard Music Awards, and nine iHeart Radio Music Awards.

Their 2016 Grammy Award winning 'Don't Let Me Down' featuring Daya, which reached Number 1 on the US Hot Dance/Electronic Songs, is certified 6x Platinum in the US and has been streamed over 1.2bn times.

Their hit single 'Closer' featuring Halsey, reached Number 1 on the US Billboard Hot 100, where it stayed for 12 weeks, and went to Number 1 on over 30 Charts worldwide.

In total, the songs in the catalogue have been certified 20x Platinum and 2x Gold by the Recording Industry Association of America and 9x Platinum and 2x Silver by the British Phonographic Industry.

The Chainsmokers are the 14th most streamed artist globally on Spotify with 41m monthly listeners.

Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey registered investment company established to offer investors a pure-play exposure to songs and associated musical intellectual property rights. 

The company's Investment Adviser is The Family (Music) Ltd., 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) Ltd. advisory board include Nile Rodgers, The-Dream, Giorgio Tuinfort, Starrah, Nick Jarjour, David Stewart, Bill Leibowitz, Ian Montone, and Jason Flom.
Details
Date Published: 22/08/2019
Target: Music catalogue from The Chainsmokers
Country: USA
Sector: Media
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Hipgnosis Songs Fund
Comment:
Terms of the deal were not disclosed

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