TIDMSONG
RNS Number : 1892V
Hipgnosis Songs Fund Limited
05 August 2020
5 August 2020
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited, the first and only UK
listed investment company offering investors a pure-play exposure
to songs and associated intellectual property rights, and its
Investment Adviser, The Family (Music) Limited, are pleased to
announce that the Company has acquired 100% of Blondie co-founders,
Debbie Harry and Chris Stein's, Writer's Share and Neighbouring
Rights (Sound Exchange) royalties in their catalogues, comprising
197 songs.
As pioneers of the American punk and new wave scene of the
mid-70s in New York, Blondie are considered one of the most
influential bands of all time. Inducted into the Rock and Roll Hall
of Fame in 2006, Blondie introduced punk music into the US
mainstream charts in 1976 with hits like 'In The Flesh', 'Rip Her
To Shreds' and 'X Offender' and with their 1980 hit 'Rapture',
which was the first US Number 1 single to feature rap vocals,
introduced millions to the hip hop sound that has revolutionised
popular music.
Blondie have released six UK and four US Number 1 singles and
have sold over 40 million records worldwide. Their songs have
achieved 25 Number 1 and 73 Top 10 chart positions globally. Their
music has been culturally important for over 40 years and 'Call
Me', 'Heart of Glass' and 'One Way or Another' have each been
streamed over 200 million times globally.
Co-founded by Harry and Stein in 1974, Blondie's self-titled
first album achieved commercial success in the UK, where it was
certified gold. Their follow up 'Plastic Letters' continued their
success, becoming certified platinum in the UK. The album featured
their hit single 'Denis' which broke into the Top 20 in most
European countries, peaking at Number 2 in the UK.
In 1978, Blondie released the seminal album 'Parallel Lines',
which not only achieved mainstream recognition and success
worldwide but introduced punk music into the US mainstream charts.
The album, which reached Number 1 on the UK and Number 6 on the US
album charts respectively, has sold over 20 million copies
worldwide making it one of the biggest selling albums of all time.
After its first two singles 'Picture This' and 'Hanging on the
Telephone' broke into the Top 20 of the UK singles chart, the genre
defying third single 'Heart of Glass' reached Number 1 in eight
countries, including the US and UK, turning Blondie into bona fide
superstars. 'Heart of Glass' remains the 56th bestselling single of
all time in the UK with over 1.6 million copies sold and was
recognised for its importance with its induction into the Grammy
Hall of Fame as a song of cultural and historical significance.
Their follow up single 'Sunday Girl' also reached Number 1 in the
UK whilst 'One Way or Another' broke into the Top 25 in the US.
Blondie's next album 'Eat to the Beat' was named by Billboard in
its Top 10 Albums of 1980, reaching Number 1 in the UK and becoming
platinum certified in both the US and UK. 'Atomic', the album's
third single, was a major success in both the UK, where it topped
the singles chart, and the US, where it topped Billboard's "Dance
Club Songs" chart.
In 1979, Blondie released their biggest selling single 'Call
Me', which spent six consecutive weeks at Number 1 on the Billboard
Hot 100 as well as topping the UK and Canadian singles charts.
'Call Me' was named as Number 57 on Billboard's "All Time Top 100"
and was nominated for both a Grammy Award and a Golden Globe as the
theme song to the 1980 film "American Gigolo".
Also in 1980 Blondie released their fifth album 'Autoamerican'
which was certified platinum and reached the Top 10 in both the US
and UK. The album included Blondie's UK and US Number 1 'The Tide
is High' and the highly influential 'Rapture' featuring an extended
rap verse making it the first US Number 1 to include rap
vocals.
After re-uniting in 1999, Blondie released their UK Number 3
album 'No Exit' with its lead single 'Maria' debuting at Number 1
in the UK singles chart. This made Blondie the first act to have UK
Number 1s in the 70s, 80s and 90s. Blondie have continued to
release new music with their 10th studio album 'Pollinator',
released in 2017, reaching Number 4 in the UK and Number 1 on the
UK Independent Albums chart.
Blondie have released three UK or US platinum certified
compilation albums including their 1981 'Best of Blondie' which is
2x platinum certified in both the US and UK and charted at Number 4
in the UK.
Debbie Harry has also had a successful career as a solo artist
releasing five studio albums. Her first solo album 'Koo Koo', which
was co-produced by Advisory Board member Nile Rodgers, reached
Number 6 in the UK while 'Rockbird' included the UK Top 10 single
'French Kissin' in the U.S.A.'. In 2019 Debbie Harry became a
bestselling author with the release of her memoir 'FACE IT'.
Chris Stein is also an acclaimed photographer who has been
documenting New York City since the late 1960's. He has published
two distinguished books with prestigious publisher Rizzoli;
'Negative: Me, Blondie And The Advent Of Punk' in 2014 and 'Point
Of View: Me, New York And The Punk Scene' in 2018. He also founded
Animal Records, signing Iggy Pop and The Gun Club, and produced the
soundtrack to the seminal early Hip Hop movie 'Wild Style' which
Rolling Stone has called "arguably the first great Hip Hop
album!".
Debbie Harry and Chris Stein were represented by longtime
manager Allen Kovac at 10th Street Management and lawyer Tim
Mandelbaum at Fox Rothschild.
Merck Mercuriadis, Founder of Hipgnosis Songs Fund Limited and
The Family (Music) Limited, said:
"I have followed every move that Debbie and Chris have made
since day one. Their singles have been not only massively
successful but era and genre defining. Equally well they have made
cultural albums of the greatest importance. No one should ever go
anywhere without Blondie, Plastic Letters, Parallel Lines, my
favourite Eat To The Beat or Autoamerican with them at all times. I
am delighted to welcome Debbie, Chris and Allen to the Hipgnosis
Family and look forward to working with them for years to
come."
Debbie Harry and Chris Stein said:
"We are so happy to be working with a progressive company. We
are looking forward to the future with Hipgnosis' forward thinking
team."
For further information, please contact:
The Family (Music) Limited Tel: +44 (0)1481 742742
Merck Mercuriadis
N+1 Singer - Joint Corporate Broker Tel: +44 (0)20 7496
James Maxwell / James Moat (Corporate 3000
Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales)
J.P. Morgan Cazenove - Joint Corporate Tel: +44 (0)20 7742
Broker 4000
William Simmonds / Jérémie Birnbaum
(Corporate Finance)
James Bouverat (Sales)
Ocorian - Company Secretary & Administrator Tel: +44 (0) 1481 742614
Mariana Enevoldsen
The Outside Organisation Tel: +44 (0)7711 081
Alan Edwards / Nick Caley 843
FTI Consulting Tel: +44 (0)7771 978220;
Neil Doyle/ Paul Harris/ Laura Ewart +44 (0)7809 411882;
+44 (0)7761 332646
All US music publicity enquiries
Fran Defeo +1 917 767 5255
NOTES TO EDITORS
About Hipgnosis Songs Fund Limited
( www.hipgnosissongs.com )
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 has raised a total of over GBP860
million (gross equity capital) through its Initial Public Offering
on 11 July 2018, and subsequent issues in April 2019, August 2019,
October 2019 and July 2020. In September 2019, Hipgnosis
transferred its entire issued share capital to the Premium listing
segment of the Official List of the FCA and to the London Stock
Exchange's Premium segment of the Main Market.
About The Family (Music) Limited
The Company's Investment Adviser is The Family (Music) Limited,
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) Limited Advisory Board include Nile
Rodgers, The-Dream, Giorgio Tuinfort, Starrah, Nick Jarjour, David
Stewart, Bill Leibowitz, Ian Montone, Jason Flom, Rodney Jerkins,
Bjorn Lindvall and Chris Helm.
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END
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