Neil Young sells 50 per cent of his music catalogue worth estimated $150m
- Bang Showbiz
- 6 January 2021
Neil Young is the latest musician to sign a lucrative deal with investment firm Hipgnosis Songs Funds
Neil Young has sold 50 per cent of his music catalogue said to be worth an estimated $150 million (£110 million).
The 75-year-old music legend is the latest artist to sign a lucrative deal with Hipgnosis Songs Fund, following their recent acquisition of 100 per cent of former Fleetwood Mac musician Lindsey Buckingham's entire music collection and producer Jimmy Iovine's producer royalties.
Half of Neil's music collection amounts to 1,180 songs.
The firm's founder, Merck Mercuriadis, said: “This is a deal that changes Hipgnosis forever.
“I bought my first Neil Young album aged seven. ‘Harvest’ was my companion and I know every note, every word, every pause and silence intimately.
“Neil Young, or at least his music, has been my friend and constant ever since.”
Hipgnosis ensures their client's music is heard across radio and TV and that they earn a tidy profit in royalties.
Merck continued: “It now turns out logical for Hipgnosis to partner with Neil to ensure his incredible songs reach all corners of the earth.
“I built Hipgnosis to be a company Neil would want to be a part of. We have a common integrity, ethos and passion born out of a belief in music and these important songs. There will never be a ‘Burger Of Gold’ but we will work together to make sure everyone gets to hear them on Neil’s terms.”
Meanwhile, last month Neil made his music archive free to listen to on his website for the rest of 2020.
The folk icon gave his fans the gift of his entire career's work online for Christmas to provide some comfort listening amid the Covid-19 pandemic.
In a statement on Neil Young Archives, he said: “We are doing well here and feeling good. We hope you are well, too.
“If you are locked down, we are here for you with hours of listening and cruising around through the years in movies. We want you to enjoy what we have to share at NYA … It’s my music and our lives. Peace.”
Among the music released in the past five decades, was the ‘Archives Volume II: 1972–1976’ boxset, and his 'Fireside Sessions', which included a cover of Bob Dylan‘s ‘The Times They Are A-Changin’'.