Neil Young sells song rights in ‘$150m’ deal

Neil Young sells song rights in ‘$150m’ deal

By Simon ReadBusiness reporter

Publishedduration47 minutes ago

An investment firm has bought 50% of the rights to all Neil Young's songs.

Hipgnosis Songs Fund spent an estimated $150m (£110m) on 1,180 songs written by the Canadian folk rocker.

The fund, which lets people invest in hit songs, has previously splashed out about £1bn snapping up rights to songs from the likes of Mark Ronson, Chic, Barry Manilow and Blondie.

Founded by music industry veteran Merck Mercuriadis, Hipgnosis turns music royalties into an income stream.

"This is a deal that changes Hipgnosis forever," said Mr Mercuriadis.

"I bought my first Neil Young album aged seven. Harvest was my companion and I know every note, every word, every pause and silence intimately.

"Neil Young, or at least his music, has been my friend and constant ever since."

Stable investment

Hipgnosis has been listed on the London Stock Exchange since July 2018. When songs owned by the fund get played on the radio or placed in a film or TV show, it makes money.

Before setting up Hipgnosis, Mr Mercuriadis managed artists such as Beyoncé, Elton John, Iron Maiden and Guns 'N' Roses.

In his view, songs are "as investible as gold or oil".

He says hit songs are a stable investment because their revenue