Hipgnosis buys The Chainsmokers catalogue

(Sharecast News) - Specialist music intellectual property investor Hipgnosis Songs Fund has acquired a music catalogue from The Chainsmokers - the 14th most streamed artist globally on Spotify with 41 million monthly listeners - it announced on Tuesday.
The London-listed specialist fund said that in total, the songs in the catalogue had been certified 20x platinum and 2x gold by the Recording Industry Association of America (RIAA), and 9x platinum and 2x silver by the British Phonographic Industry (BPI).

Hipgnosis said The Chainsmokers - an artist and producer duo made up of Alex Pall and Andrew Taggart - had been "the most consistently successful" pop artists of the last five years.

They boasted 55 number one and 245 top 10 chart positions globally, and won 'Best Dance Recording' at the 2017 Grammy Awards, two American Music Awards, seven Billboard Music Awards, and nine iHeart Radio Music Awards.

It said it had acquired 100% of the Chainsmokers' interest, including ASCAP income in their catalogue, which comprised 32 Chainsmokers' songs.

The purchase also included 10 additional songs written by Andrew Taggart, including '1-800-273-8255' by Logic featuring Alessia Cara and Khalid, which reached number three on the US Billboard Hot 100 and was nominated for 'Song of the Year' at the 2018 Grammy Awards.

"The Chainsmokers are the highest paid duo in the world not only because they know how to spin records better than anyone else but because they have created amongst the very biggest hits in the world for the dance and pop community over the last seven years," said Merck Mercuriadis, founder of Hipgnosis Songs Fund and its investment adviser The Family Music.

"This is a set of songs that people can't stop playing and that will define the lives of so many people that have grown up in the 2010's.

"It's my pleasure to welcome Alex, Drew and Adam to the Hipgnosis Family."