Monday, November 2, 2020

Hipgnosis ups the ante with $322.9m Kobalt Capital deal | Music Ally

Like a child scrambling to spend their birthday money on V-Bucks or Robux within seconds of being given it, Hipgnosis Songs Fund isn’t wasting any time spending its latest injection of cash from investors.

This morning saw the company’s biggest deal yet, paying $322.9m for a catalogue of more than 33k songs (or shares in songs) owned by Kobalt Capital – the copyright-acquisitions arm of Kobalt. That includes the works of more than 1,500 songwriters, including a slice (not Mariah’s though) of Mariah Carey’s ‘All I Want For Christmas Is You’ – about as evergreen a song as there is at this time of year. These works were owned by Kobalt Capital’s first fund, and generated $18m of royalties in 2019.

Stuart Dredge


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