After Bob Dylan, Neil Young sells 50 percent of his song catalogue rights to British company
Young has sold 50% of the worldwide copyright and income interests in his 1,180 song catalogue to Hipgnosis Songs Fund Limited. (Firstpost)
The Hipgnosis Songs Fund said it had acquired half of the copyright and income interests in some 1,180 songs written by the 75-year-old rock star, composer of ‘Heart of Gold’, ‘Rockin’ in the Free World’ and ‘Cinnamon Girl’.
Terms were not disclosed.
The deal comes a month after Bob Dylan sold publishing rights to more than 600 songs to the Universal Music Publishing Group for a reported fortune of between $300 million and a half-billion dollars. Stevie Nicks sold an 80 percent stake in her music to Primary Wave for a reported $100 million.
Merck Mercuriadis, the founder of Hipgnosis Songs Fund Limited, said that he bought his first Neil Young album when he was seven years old.
“‘Harvest’ was my companion and I know every note, every word, every pause and silence intimately,” he said. “Neil Young, or at least his music, has been my friend . . . ever since.”
The businessman also said Young’s late manager, Elliot Roberts, was equally an idol to him.
Young use to waive the monthly $2 fee ($20 annually) and make available his entire catalog — including the new Archives Volume II (1972-1976), his complete Fireside Sessions series, and his upcoming film Timeless Orpheum, which documents his show on January 28th, 2019, at the Orpheum Theater in Minneapolis. The set opened with a rare “Last Trip to Tulsa.”
“We are doing well here and feeling good,” he wrote on his website. “We hope you are well, too. Our hearts go out to all those families touched. If you are locked down, we are here for you with hours of listening and cruising around through the years in movies. We want you to enjoy what we have to share at NYA. … It’s my music and our lives. Peace.”
Recently Neil Young has voluntarily dismissed his copyright lawsuit against Donald Trump’s presidential campaign, for playing his music at rallies, saying his songs have been used “For a divisive, un-American campaign of ignorance and hate.”
The copyright infringement lawsuit was filed Tuesday (Aug. 4) in the U.S. District Court in the Southern District of New York and claims Trump’s campaign has used Young’s music “as a ‘theme song.'”