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To provide shareholders with an attractive and growing level of income, together with the potential for capital growth, from investment in songs and associated musical intellectual property rights.
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Really? ......... "ultra growth". ?
And there was me thinking it was set up as an income generating machine.
Where's the "ultra" going to come from?
Disclosure - I do hold.
Regardless I'm still excited by this company loads of possibilities down the line with what they do with all these acquisitions. Probably the closest thing we have here to an ultra growth Nasdesque stock.
"I wonder who the artists use to value their rights."
They're called managers, lawyers and accountants. Also probably a case of " a bird in the hand is worth....."
Of course, none of us know how much Hipgnosis is paying or what the earnings history is but, all things being equal, I see these types of deals better than say, that for Barry Manilow which I read as excluding publishing royalties (but maybe I've got that wrong).
"Hipgnosis says it simply buys music catalogues well and at a discount to their valuation, which the independent valuer, Massarsky, then recognises"
I wonder who the artists use to value their rights.
"Hipgnosis says it simply buys music catalogues well and at a discount to their valuation, which the independent valuer, Massarsky, then recognises"
I wonder who the artists use to value their rights.
This should really Shakira up the share price!
From City Wire:
In response, Hipgnosis says it simply buys music catalogues well and at a discount to their valuation, which the independent valuer, Massarsky, then recognises. However, the analysts say they would prefer a more ‘conservative’ approach in line with private equity, infrastructure and debt funds which hold newly bought assets at cost ‘until there are verifiable reasons to suggest a change is warranted.’
As is this - read down to the Hipgnosis writing https://www.theguardian.com/business/nils-pratley-on-finance/2021/jan/06/veteran-investor-stock-market-jeremy-grantham-epic-bubble-wall-street
This is an interesting article.
https://www.synchtank.com/blog/money-moves-barry-massarsky-on-data-driven-catalog-valuations-and-drivers-of-growth-in-the-music-investment-market/
That's the concern. They're buying the assets for undisclosed sums then immediately writing up the asset value.
Massarsky is supposedly independent but seems to be promoting the business.
There's also the risk of scandals involving rights holders leading to devaluation of assets.
Just found this from a month ago. Don’t think it’s been shared here https://www.musicbusinessworldwide.com/hipgnosis-songs-fund-is-now-worth-1-7bn-and-on-course-to-generate-more-than-120m-in-net-revenue-annually/
It’s this kind of coverage makes me really excited and optimistic about the company!
Basically need to watch how the assets are being valued and the rate of acquisitions / debt / revenue. I.e the basics.
I expect it's because (a) the people they're buying from don't want it disclosed and (b) they don't want to let their competitors know what deals they're doing.
I am concerned that they don't disclose how much they pay for rights.
https://www.ft.com/content/30051971-9b61-4b2b-ba9e-64a2c0df0378 the not so good PR any views on this?
Article in FT today. It's behind their paywall but if you google " Stifel is worried that Hipgnosis Songs Fund is slipping out of tune" you should get there.
Round Hill will compete to buy artists' rights in the most part, driving up acquisition costs. They might be competition to a smaller extent on the demand side - while they can;t influence whether I listen to Neil Young or the Beatles on Spotify, they could in theory compete by getting their music used in an advert/ film/ TV show rather than Hipgnosis'.
Think of it like a Reit - if there's only one bidder for a building , the purchase price is cheaper than if there are 2. If a new customer can rent office A or office B, there is a ceiling to the selling price.
I think Hipgnosis is going after more recent rights than Round Hill from memory, so the impact may be limited, but it will be there.
Anyone here know how Round Hill Music, recently listed on the LSE, will compete with SONG?
jlovie - sync licensing is what you are talking about and that is where I think this fund is going to make a huge amount goign forward. Sync licensing can be lucrative. Unknown bands could easily get £10k upfront and then the performance royalties for each broadcast. Something like Get Lucky (Nile Rodgers, seriously?!) could easily be £50k for a placement. Check out this for an easy guide https://www.tunecore.com/guides/sync-licensing-101
For actual figures have a look here http://thinksyncmusic.com/guides/music-in-films-budgeting-continued/
Surely this fund is immune to dodgy economic times, rock on.
Get Lucky by Daft Punk - Nile Rodgers again. kerching.
The 4th Dec. RNS said they'd be looking at an equity raise in the new year. With the run of recent acquisitions I'd expect it sooner rather than later.
The Nile Rodgers stuff often surprises me.
I wonder how much they get for a track used in a Hollywood blockbuster soundtrack.
And no your not the only one who does that :) Though radio play isn't just a few pence. If we are the only owner its about £20-£30 per min paid for the composer share for BBC Radio 2 iirc. Obviously that might be split between different rights holders but it can quickly add up. One of the reasons why I like the business model!
Yea I'm planning to buy a pile more soon when I have some free money and theres a bit of a dip. Thinking there mgiht be one ater the next divi payment date. Def seeing this as a very long term share and just keep adding to it