Neil Young, who has spent decades refusing to “sell out” by licensing his tracks for commercials, has sold 50 per cent of his song catalog to Hipgnosis Sale.
While terms of the deal were not disclosed, it could have valued the catalog anywhere between $90 million and $105 million.
Young’s catalog includes around 1,180 songs spanning over five decades, according to a statement about the deal.
— Variety (@Variety) January 6, 2021
Hipgnosis has been acquiring music left, right, and centre, spending almost $1 billion on music assets since Merck Mercuriadis founded it back in 2018.
“I built Hipgnosis to be a company Neil would want to be a part of,” Mercuriadis said in a statement. “We have a common integrity, ethos and passion born out of a belief in music and these important songs… This is a deal that changes Hipgnosis forever and it’s a dream to welcome Neil, Frank, Bonnie and the team to the Hipgnosis family.”
Young’s deal follows an announcement earlier this week that revealed that Hipgnosis bought 100 per cent of Fleetwood Mac frontman Lindsey Buckingham’s catalog.