Hipgnosis Songs Share News (SONC)

(Sharecast News) - Hipgnosis Songs Fund has acquired a music catalogue from Savan Kotecha, an Indian-American songwriter and producer whose songs have been nominated for 17 Grammy Awards, and who has just been named Music Week's 'Songwriter Of The Year' for 2019, it announced on Friday.
The London-listed firm said Kotecha had achieved "huge" commercial and critical success, having been awarded nine BMI Awards and 18 ASCAP awards, while his songs had sold more than 375 million copies globally as he had collaborated - often with Max Martin - on number one and platinum hits with Ariana Grande, One Direction, Usher, The Weeknd, Justin Bieber, Nicki Minaj, Britney Spears and Katy Perry.

In addition, his work with The Weeknd had received particularly wide critical acclaim, and included co-writing the two times Grammy Award nominated US number one 'Can't Feel My Face', which had been certified seven times platinum in the United States.

Hipgnosis has acquired 100% of Savan Kotecha's worldwide copyrights on the catalogue, which consists of 49 of his songs, and includes nine new songs due for release in 2020 by Camila Cabello, Ellie Goulding and Sam Smith.

"Savan is a special songwriter with a Midas touch," said founder of Hipgnosis Songs Fund and its adviser The Family Music, Merck Mercuriadis.

"His magical songs have helped propel Ariana Grande into one of the most influential artists of her generation.

"This is a sensational set of songs and bear out why he's just been voted Songwriter Of The Year for 2019."

Savan Kotecha added that he was "beyond excited" for his songs to join the Hipgnosis Hipgnosis catalogue.

"I know my 'babies' will be well taken care of.

"Merck and his team have proven that they are true lovers of music and understand not just the monetary value of songs but the cultural value as well."

At 1446 GMT, shares in Hipgnosis Songs Fund were up 0.009% at 108.01p.