Last checked at 
18 Dec 2019 07:00
18 December 2019
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited and its Investment Adviser, The Family (Music) Limited, are pleased to announce that the Company has acquired a music catalogue from songwriter, producer and Snow Patrol keyboardist Johnny McDaid. Johnny has co-written songs with Ed Sheeran, Pink, Shawn Mendes, Robbie Williams and Snow Patrol that have streamed over 20 billion times and earned over 600 platinum awards and 14 diamond awards.
Collaborating closely with Ed Sheeran since 2013, Johnny McDaid co-wrote the most streamed song of all time with the record breaking 'Shape Of You' which to date has been streamed over 2.3 billion times. In addition to winning a Grammy and an Ivor Novello Award, 'Shape Of You' reached Number 1 on the singles chart in 34 countries including the US' Billboard Hot 100, where it remained Number 1 for a record equalling 16 consecutive weeks and is certified diamond in five countries including in the US. 'Shape of You' has sold over 40 million singles and has had over 4 million radio performances. Johnny McDaid also co-wrote 'Photograph' which is the 13th most streamed song of all time with 1.3 billion streams and is certified 4x platinum in the US and 3x platinum in the UK.
Johnny McDaid co-wrote five songs on Ed Sheeran's 'x' album which was nominated for two Grammy Awards, reached Number 1 in 15 countries including the UK, where it is the 20th best selling album of all time having been certified 11x platinum and the US where it is certified 4x platinum as well as co-writing and or producing eight songs on his Grammy Award winning '÷' album which reached Number 1 in 14 countries including the UK where it is certified 11x platinum and the US where it is certified 4x platinum. These include the US platinum and UK 3x platinum hit 'Galway Girl', the US and UK platinum certified 'Tenerife Sea', the UK platinum certified 'Supermarket Flowers', the UK platinum certified 'What Do I Know?' and the UK Number 2 'Bloodstream'.
The Catalogue also includes Pink's Grammy Award nominated 'What About Us' which is certified platinum in the US and UK and reached Number 1 in nine countries, as well as songs by Robbie Williams, Shawn Mendes, Keith Urban, Faith Hill and Tim McGraw, Example, Rudimental, Biffy Clyro and Birdy.
Hipgnosis has acquired 100% of Johnny McDaid's interest in his catalogue of songs released before 1 April 2019 which comprises 91 songs.
Johnny McDaid was represented by his manager Erik Eger, business manager Kevin McCullough, lawyer Willie Ryan, and spearheaded by attorney Michael Poster of Michelman and Robinson.
Merck Mercuriadis, Founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited, said:
"It's hard to have some of the biggest songs in the world and yet still be so underrated but Johnny is one of the most extraordinary creators and his work with Ed and so many others speaks for itself and it's an honour to welcome him and Erik to the Hipgnosis family."
Erik Eger said:
"Merck's background as an artist manager enabled him to quickly understand what was important to Johnny in this deal and deliver on it. Johnny and I are encouraged by Merck's mission of advocating for songwriters and wish him every success in this endeavor."
For further information, please contact:
The Family (Music) Limited Merck Mercuriadis
| Tel: +44 (0)1481 742742 |
N+1 Singer - Joint Corporate Broker James Maxwell / James Moat (Corporate Finance) Alan Geeves / James Waterlow / Sam Greatrex (Sales)
| Tel: +44 (0)20 7496 3000 |
J.P. Morgan Cazenove - Joint Corporate Broker William Simmonds / Ed Murray / Jérémie Birnbaum (Corporate Finance) James Bouverat / Eddie Nissen (Sales)
| Tel: +44 (0)20 7742 4000 |
The Outside Organisation Alan Edwards / Nick Caley | Tel: +44 (0)7711 081 843 |
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 £625 million (gross equity capital) through its Initial Public Offering on 11 July 2018 and subsequent issues in April 2019, August 2019 and October 2019. 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 and Jason Flom.