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Hipgnosis Songs Fund Limited
05 May 2021
 

5 April 2021

 

Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")

Acquisition of Music Catalogue

The Board of Hipgnosis Songs Fund Limited, the first UK listed investment company offering investors a pure-play exposure to songs and associated intellectual property rights, and its Investment Adviser, The Family (Music) Limited, are pleased to announce that the Company has acquired a catalogue from Andrew Wotman, better known as Andrew Watt or just simply Watt, the just awarded 2021 Grammy winner for "Producer Of The Year" for his work with Miley Cyrus, Dua Lipa, Post Malone and Ozzy Osbourne. Watt has co-written five of the Top 100 most streamed songs of all time with Señorita by Shawn Mendes and Camila Cabello (9th), Havana by Camila Cabello featuring Young Thug (16th), Let Me Love You by DJ Snake featuring Justin Bieber (42nd), Eastside by Benny Blanco, Halsey and Khalid (83rd) and Youngblood by 5 Seconds of Summer (88th).


Andrew Watt started his professional music career as a guitarist for other artists including Justin Bieber before founding rock band, California Breed, in 2013. The band's single self-titled album was well-received, topping the UK Rock & Metal Albums Chart and reaching Number 26 on the UK Albums Chart. In 2015, his friendship with Justin Bieber acted as a catalyst for Watt to start writing and producing with Bieber alongside his solo work, releasing his solo EP Ghost In My Head in 2016.


Since 2015, Watt has been one of the most successful and influential rising writers and producers with key hits including:

 

·    Señorita by Shawn Mendes and Camila Cabello, which having been streamed 1.74 billion times is the 9th most streamed song of all time as well as the third best-selling single worldwide of 2019. Señorita reached Number 1 on the US Billboard Hot 100, as well as 35 other countries, and is certified multi-platinum in 13 countries. The single has won an American Music Award, two MTV Video Music Awards, a People's Choice Award, and received a nomination at the Grammy Awards for "Best Pop Duo/Group Performance".

·    Havana by Camila Cabello, featuring Young Thug, is the 16th biggest streaming song of all time, with over 1.56 billion streams. Havana reached Number 1 in seven countries including the UK and the US, where it is 3x and 9x platinum respectively, and was the best-selling digital single of 2018, with over 19 million units sold worldwide.

·    Let Me Love You, by DJ Snake featuring Justin Bieber, which has been streamed 1.35 billion times making it the 42nd most streamed song of all time. Watt's breakthrough success, Let Me Love You debuted at Number 12 on the Billboard Hot 100, reached the Top 5 of the UK and US singles charts and was certified at least platinum in 15 countries, including the UK and US where it is 4x platinum.

·    Eastside by Benny Blanco, Halsey and Khalid has been streamed 1.13 billion times making it the 83rd most streamed song of all time. As well as reaching Number 1 in the UK, Eastside is certified at least platinum in nine countries including the US where it is 4x platinum.

·    Youngblood by 5 Seconds of Summer has been streamed 1.11 billion times and is the 88th most streamed song of all time. Youngblood reached the Top 10 in 11 countries including the US and UK and its official videos have a combined 320 million views on YouTube.

·    It Ain't Me by Kygo and Selena Gomez was a Top 10 hit all over the world and is certified platinum in 16 countries, including the UK and US where it is 3x platinum.

·    Wolves by Selena Gomez and Marshmello reached the Top 10 in 19 countries and has been certified platinum in 15 countries worldwide, including the UK and US where it is 2x platinum. Wolves was also the second-most successful electronic song of 2018 in the US.

 

Andrew Watt has also written and produced hit songs for a host of global talent including: Avicii, with his US platinum certified Lonely Together featuring Rita Ora; The Chainsmokers, with their US platinum certified Call You Mine featuring Bebe Rexha; Ellie Goulding, with her US 2x platinum Hate Me with Juice Wrld; and Rita Ora, with her UK 2x platinum Anywhere.

 

Whilst not part of the current catalogue acquired as part of the acquisition, Hipgnosis has a Matching Right on the following recent hits Watt is responsible for, as well as future songs:

 

·    Take What You Want by Post Malone with Ozzy Osbourne and Travis Scott, which reached Number 8 on the Billboard Hot 100 and has been streamed more than 1 billion times across all services. It was included along with Die For Me, featuring Future and Halsey, on Post Malone's Hollywood Bleeding album which was multi-platinum all over the world, including Number 1 in both the UK and US amongst 12 other countries.

·    In the last 12 months, Watt has co-written four UK Top 10 and US Top 15 singles including Midnight Sky by Miley Cyrus, Prisoner by Miley Cyrus featuring Dua Lipa, Break My Heart by Dua Lipa and Anyone by Justin Bieber.

·    Watt also co-wrote and produced five songs on Justin Bieber's new album, Justice, which has been Number 1 all over the world.


Andrew Watt was represented by manager Scooter Braun at SB Projects and attorney Doug Mark.

Merck Mercuriadis, Founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited, said:

"It is amazing to be welcoming Watt to the Hipgnosis Family just as he has been awarded the "Producer Of The Year" Grammy for his work with Miley Cyrus, Post Malone et al, and as he has been Number 1 all over the world with Justin Bieber. He is arguably the most important writer and producer in the world today and I don't use those words lightly. Watt and Scooter are an incredibly important part of our future."

 

Andrew Watt said: 

"Joining the Hipgnosis family was a no brainer for me. Merck is one of the most passionate people about music I have ever met...every conversation we have ever had starts with 30 minutes on The Ramones or The Clash...and then we meet at the record store to dig through the crates and talk shop...he is in the process of changing the game for songwriters. He leads his company by putting the creators first."

Scooter Braun said:

"Andrew is one of the most groundbreaking producers and songwriters of our time, and I've had the honor to have a front row seat to so many of his record-breaking achievements in the industry. His talent and creative process is unparalleled and we look forward to what the future holds in this new partnership with Merck."

 

Catalogue Playlists:

 

Spotify

https://open.spotify.com/playlist/2pXGriWlQwKZGC1KtFZeR6?si=oRtlbAv8R9CegCYZKSh2Lg

 

Apple

https://music.apple.com/gb/playlist/andrew-watt-highlights/pl.u-qxylK2lC3k86Kmj

 

Key Catalogue Information:

 

Catalogue

Andrew Watt's catalogue until mid-2019

 

Copyright acquired

 

Publishing and Writers Share of Income

 

Number of Songs

 

105

 

Accolades

 

Number 1s

Top 10s

135

424

 

 

Revenue History

 

2017

2018

2019

$'000

$'000

$'000

1,274

3,409

4,338

 

 

 

Revenue mix by source*

Mechanical

Performance

Streaming

Sync

Writer's Share

5%

20%

24%

3%

46%

 

 

 

Revenue mix by geography

US

Rest of World

59%

41%

 

 

 

Revenue diversification

Top 3 Songs

Top 5 Songs

Top 10 Songs

41%

58%

81%

 

 

 

Top 5 Songs by revenue

Song

Artist

Youngblood

5 Seconds of Summer

Señorita

Shawn Mendes and Camila Cabello

Havana

Camila Cabello

It Ain't Me

Kygo and Selena Gomez

Wolves

Selena Gomez and Marshmello

 

 

*Based on the catalogue's royalty statement revenue in the calendar year 2019

 

 

 

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 / Amanda Gray (Corporate Finance)

Alan Geeves / James Waterlow / Sam Greatrex (Sales)

 

Tel: +44 (0)20 7496 3000

J.P. Morgan Cazenove - Joint Corporate Broker

William Simmonds / Jérémie Birnbaum (Corporate Finance)

James Bouverat (Sales)

 

Tel: +44 (0)20 7742 4000

RBC Capital Markets - Joint Corporate Broker

Elliot Thomas / Max Avison / Lauren Davies (Corporate Finance)

Lisa Tugwell (Sales)

 

Tel: +44 (0)20 7635 4000

Ocorian - Company Secretary & Administrator

Lorna Zimny

 

Tel: +44 (0) 28 9693 0222

The Outside Organisation

Alan Edwards / Nick Caley

Tel: +44 (0)7711 081 843

 

FTI Consulting

Neil Doyle/ Paul Harris/ Laura Ewart

 

 

Tel: +44 (0)7771 978220; +44 (0)7809 411882; +44 (0)7761 332646

 

All US music publicity enquiries

Fran Defeo

+1 917 767 5255

 

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 £1.1 billion (gross equity capital) through its Initial Public Offering on 11 July 2018, and subsequent issues in April 2019, August 2019, October 2019, July 2020, September 2020 and February 2021. 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, and in March 2020 became a constituent of the FTSE 250 Index. As of 1 April 2021, the Company will be treated as being resident in the UK for tax purposes and is recognised as an investment trust under applicable HMRC regulations. 

 

 

About The Family (Music) Limited

The Company's Investment Adviser is The Family (Music) Limited, which was founded by Merck Mercuriadis, manager or former manager of globally successful recording artists, such as Nile Rodgers, 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 A. Stewart, Bill Leibowitz, Ian Montone, Rodney Jerkins, Björn Lindvall and Chris Helm.

 

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