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(Sharecast News) - Award-winning songwriter Carole Bayer Sager has become the latest musical artist to sell their song catalogue after a deal with Hipgnosis Songs Fund for an undisclosed sum.
Bayer Sager's catalogue of 983 songs spans 55 years, starting with 'A Groovy Kind Of Love', written when she was still at high school. She has won Grammy, Oscar and Golden Globe awards and charted 49 Number 1 hits and 109 Top 10s.
Best known for her work as a songwriter and producer, Bayer Sager has collaborated with Carly Simon, Barbra Streisand, Michael Jackson, Frank Sinatra, Bob Dylan, Whitney Houston, Ray Charles, Dolly Parton, Aretha Franklin, Neil Diamond, Bette Midler, Celine Dion, Phil Collins, Rod Stewart and Reba McEntire, said Hipgnosis founder Merck Mercuriadis on Thursday.
The catalogue earned revenues of $0.65m in 2020, $0.548m in 2019 and $0.52m in 2018.
"In speaking with Merck, I was surprised to find how intimately acquainted he was with my catalogue of songs. Hearing his plans to keep these songs alive and bring them to a new generation of listeners, excited me and convinced me now was the right time to allow a new custodian to take charge of their future," Bayer Sager said.
"With Merck and his Hipgnosis family I feel my songs are going to be nurtured and cared for."
Today 15:47
Blackstone to make improved bid for Hipgnosis, Sky News reports
April 28 (Reuters) - Private equity giant Blackstone is preparing to lodge an improved bid for Hipgnosis Songs Fund which owns the music rights of artists including Shakira and Blondie, Sky News reported on Sunday.
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