It felt like the top of the story. Blackstone formally acquired Hipgnosis Songs Fund from its public shareholders final month for USD $1.584 billion – giving the Merck Mercuriadis-founded firm an enterprise valuation of $2.2 billion-plus.
The post-acquisition plan was apparent: Blackstone would mix HSF’s 40,000 songs with Blackstone’s privately held Hipgnosis Songs Capital, aka Hipgnosis Songs Property, residence to copyrights related to Leonard Cohen, Justin Timberlake, Justin Bieber, Nelly Furtado, and Kenny Chesney.
That Blackstone enterprise mixture, MBW understands, took mere days to occur following the HSF acquisition.
What was maybe much less clear within the wake of the Blackstone/HSF deal was what would occur to Hipgnosis Music Administration (HSM) – the funding adviser to each Hipgnosis’ personal fund and the (beforehand) public entity of Hipgnosis Songs Fund.
Chatter round HSM gathered quantity when it was introduced on July 2 that Mercuriadis would exit his position as Chairman of the corporate six years after founding it.
Regardless of abandoning an skilled management staff together with Ben Katovsky (CEO), Dan Pounder (CFO), Jon Baker, and Sara Lord, Mercuriadis’ exit led some to imagine that Blackstone would possibly slim down HSM, because the monetary big appeared to take a quieter position in music enterprise rights possession.
That assumption is now wanting questionable – as a result of Hipgnosis Music Administration is on a hiring spree post-Blackstone’s HSF deal.
HSM is presently recruiting for numerous London-based roles together with Product Supervisor of Artistic/Viewers Growth, plus VP of Licensing Administration, a Junior Information Engineer, and a Crew Coordinator.
This doesn’t look like the motion of an organization trying to reduce its staff.
One other improvement is going down at Hipgnosis, too, which additionally speaks to the corporate’s potential future affect within the world music house.
Whispers are breaking out amongst MBW’s sources within the US that Hipgnosis representatives have undertaken exploratory discussions with giant music publishers relating to a possible publishing admin settlement.
To this point, Hipgnosis has relied on its in-house administration staff at Hipgnosis Songs Group (HSG) (beforehand often called Large Deal Music) to handle the publishing admin of its track portfolio in the USA.
Nevertheless, through the bidding course of for HSF, Blackstone confirmed that, following a profitable acquisition, it’d promote or restructure Hipgnosis Songs Group.
Might a publishing admin deal with a significant music firm now be on the horizon for Hipgnosis?
In that case, it might be vital to the business’s greatest gamers.
Hipgnosis Songs Fund generated $147.2 million in revenues within the 12 months to finish of March 2023 – and that didn’t embrace Blackstone’s privately-held catalog of songs (together with Leonard Cohen, Justin Bieber and so forth.).Music Enterprise Worldwide
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