Rock legend Neil Young is the latest high-profile artist to close a massive deal of his music publishing rights, as announced by the Hypnosis song fund investment company. The company did not disclose how expensive the deal was, but some outlets are reporting that the deal was in the neighborhood of $ 150 million.
Although Neil did a lot in the deal, Hypnosis’s press announcement stated that they now “own 50% of worldwide copyright and income in Neil Young’s entire song list of 1,180 songs,” as you probably know. It is such an arrangement that more and more big name recording artists of Young Generation are making these days. Bob Dylan sold a portion of his publishing rights to Universal for as high as $ 500 million, while Stevie Nicks and Lindsey Buckingham (both of Fleetwood Mac) also closed similar deals recently.
Hipkonosis founder Merk Mercuridis is quoted in a press release on the Young Deal, and insists that it is not just a business deal for him, but a by-product of Young’s long-time love of music. As he says:
“I bought my first Neil Young album at the age of 7. ‘Harvest’ was my companion and I know every note, every word, every stagnation and silence with ease. Neil Young or at least his music, ever since. Is my friend and constant. ”
Young, who has always been willing and eager to contend with record companies and other corporate entities during his long career, does not offer comment in a press release, but Mercuridis said the deal was closed to Young’s Intended to maintain a sense of artistic integrity:
“I created Hypnosis to be a company of which Neil wants to be a part. We have a common integrity, ethics and passion that instills confidence in music and these important songs. Never ‘Burger of Gold’ Will, but we’ll work together to make sure everyone hears them on Neil’s terms. There’s a good chance that their lives will change the way they were mine. It’s a deal that will keep Hypnosis forever And it is a dream to welcome Neil, Frank, Bonnie and the team to the Hypnosis family. “
If you’re not a Young fan, you might be surprised by that “Burger of Gold” reference. Back in the 70s, Young was famously approached by McDonald to make a commercial use of his song “Heart of Gold”, and refused to allow it. Even as popular music becomes more and more ubiquitous in advertising, Young has been one of the holdouts, never allowing his music to be used that way, and the Hypnogosis press statement indicated that This is not going to change the result of this sale.