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Hipgnosis Songs Fund Limited
New Global Administration Agreements with Sacem and peermusic

Lundi 18 Juillet 2022 — Press releases
Hipgnosis Songs Fund Limited, which offers investors a pure-play exposure to songs and associated intellectual property rights, and its Investment Adviser, Hipgnosis Song Management Limited have agreed ground-breaking digital administration and sub-publishing partnerships with the Society of authors, composers and publishers of music (Sacem) and peermusic. Along with Hipgnosis Songs Group (“HSG”), they will provide a modern, global network for the collection of song royalties for Hipgnosis.

Hipgnosis has entered into a direct administration partnership with Sacem, one of the world-leading Collective Management Organisations (“CMO”), to collect digital rights for the writers’ share and Hipgnosis’ own publisher share, primarily in the UK and the European Union. In addition, Hipgnosis has entered into a sub-publishing partnership with peermusic to collect publishing rights and other royalties in the rest of the world excluding the US. Hipgnosis will continue to use HSG for royalty collection in the United States.

Together these partnerships eliminate a link in the royalty collection process, which is expected to materially reduce third party administration and collection fees, the length of time it takes to collect digital revenues and to expand our global publishing and synch footprint. Hipgnosis will initially revert 36 Catalogues to these new partnerships, including Neil Young, Red Hot Chili Peppers, Chrissie Hynde and Jack Antonoff. Additional Catalogue administrations will be transferred to these partners, where appropriate, as their administration rights revert.

About Sacem and peermusic

Sacem, one of the world-leading CMO, is a Paris based, non-profit non-trading entity owned and managed by its members according to the business model of a cooperative. To guarantee authors’ intellectual property rights over their works, Sacem collects and distributes royalties, thereby playing a crucial economic role to preserve musical creation.

Sacem is already mandated to collect royalties on digital usages by some of the largest companies (publishers and CMOs) in the sector on a multi territorial basis and their approach on using technology to revolutionise the Collective Management system made them a natural partner for Hipgnosis. Sacem is the oldest and most established CMO in the world. Their combined approach of experience and tech innovation is the perfect combination to drive collections and revenue upwards.

peermusic is the world’s largest independent music publishing and neighbouring rights administration company, with a network of 38 offices in 31 countries. Since its establishment 95 years ago, peermusic has distinguished itself by retaining the ethos of an independent and global family business that remains service-oriented while driving significant progress in a rapidly changing competitive market. Income collected for peermusic sub-publishing clients has doubled during the past 5 years.

Merck Mercuriadis, CEO and Founder of Hipgnosis Song Management said:
“These are ground-breaking, future thinking deals. Sacem will directly collect and pay digital rights for writers’ share, primarily in the UK and the EU, eliminating a link in the royalty collection process. This will materially reduce third party administration and collection fees and the length of time it takes to collect digital revenues.

“Combined with our new relationship with peermusic, and alongside our in-house expertise in HSG, this provides us with global coverage from best in class operators with a focus on collecting more, collecting it faster and getting it paid through faster.

“We’ve had a long-standing admiration for both Ralph and Mary Megan Peer, who are the first family of music publishing, and Sacem has been elevated to a gold standard under Cecile RapVeber’s leadership. We very much look forward to welcoming them to the Hipgnosis family and working closely together.”

Amy Thomson, Chief Catalogue Officer of Hipgnosis Song Management said:
“It is important that the songs which come into our direct care move ever closer to the source of digital revenue. Transparency and data fuels our ability to remove the costs of middlemen and work on registration issues worldwide, increasing the revenue of our catalogues. By coming closer to the source with Sacem and expanding our publishing and synch footprint via peermusic all combined with HSG’s expertise in the US, the true agenda of totally transparent and optimum revenue takes a huge leap in the direction we promised.”

Cécile Rap-Veber, CEO, Sacem said:
“We are thrilled to partner with Hipgnosis. This partnership once again demonstrates Sacem's ability to serve innovative players in the music market and increase the remuneration of works of major artists and to contribute to the preservation of these catalogues.

“Hipgnosis will benefit from Sacem’s negotiation with multi territorial DSPs, and technological expertise, especially in the field of data management with its innovative URights platform, which will give Hipgnosis full visibility, in real time, on the revenues generated by its catalogues. Our goal is always to add value to music by leveraging the transformations in consumption and distribution modes, in order to contribute to the vitality of creation and cultural diversity."

Mary Megan Peer, CEO, peermusic, said:
“We initially started this relationship through Big Deal Music (which Hipgnosis acquired in 2020) and have built a genuine connection from there. As the sub-publisher for Hipgnosis Songs Fund, peermusic will work to maximize synch opportunities for Hipgnosis clients in all local markets as well as provide them with the first-class administration for which peermusic is known. This deal allows us to help maximize local synch markets through our worldwide offices and administrative opportunities for Hipgnosis’ roster with business partners who share our ultimate goal to serve their music creators and maximize their earnings.”

Communiqués de presse

About Sacem

About Hipgnosis Songs Fund

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 almost £1.3 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, February 2021 and July 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. Since April 2021, the Company has been resident in the UK for tax purposes and is recognised as an investment trust under applicable HMRC regulations.

 

About Hipgnosis Song Management Limited

The Hipgnosis Songs Fund’s Investment Adviser is Hipgnosis Song Management 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 Hipgnosis Song Management Limited Advisory Board include Nile Rodgers, The-Dream, Giorgio Tuinfort, Starrah, David A. Stewart, Poo Bear, Bill Leibowitz, Ian Montone and Rodney Jerkins.

 

About peermusic

Founded by Ralph S. Peer in 1928, peermusic is the world’s largest global independent music publishing and neighbouring rights administration company, operating from 38 offices in 31 countries. With well over a million titles owned or administered by the company, and with a neighbouring rights roster encompassing over 300 record labels and more than 2,500 performers, peermusic is the largest privately owned company of its kind in the world. For further information about peermusic, go to www.peermusic.com. For breaking news updates, behind-the-scenes information and photos, follow @peermusic on Twitter, Instagram and Snapchat.

 

About Sacem

Music accompanies our lives and, for 170 years, Sacem has supported those who create it. 182,520 authors, composers and publishers have it chosen to manage their copyright. Mouthpiece for creators, trusted partner of music distributors, Sacem acts to promote music in all its diversity. A non-profit company, Sacem contributes to the vitality and the influence of creation in all regions, through daily support to cultural and artistic projects. Together let's bring music to life!

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