Neil Young will perform at the Festival d’tete of Quebec on July 6, 2018 in Quebec City, Canada.
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Legendary country rocker Neil Young has sold 50% of his song catalog to the Hipgnosis Songs Fund, a UK investment vehicle founded by Merck Mercuriadis, a veteran of the music industry.
The agreement gives Hipgnosis rights to copyright and revenue interests worldwide from 1,180 songs composed by Young, which was reported to have cost approximately $ 150 million.
“I bought my first Neil Young album at the age of 7. ‘Harvest’ was my companion and I know every note, every word, every stop and silence,” said the former Mercuriadis talent manager in a statement Wednesday.
“Neil Young, or at least his music, has been a friend of mine and a constant ever since.”
Hipgnosis was launched on the London Stock Exchange in 2018 and will reach music realms with a view to generating revenue streams. On Tuesday, the fund announced the acquisition of the complete catalog of Fleetwood guitarist and speaker Mac Lindsey Buckingham.
He has also invested in song rights from artists such as Mark Ronson, Chic, Barry Manilow and Blondie.
Young did not approve any of his songs for commercial use and Mercuriadis pointed out that this is unlikely to change.
“I built Hipgnosis to be a company that Neil would want to be a part of. We have a common integrity, philosophy and passion that comes from a belief in music and these important songs,” he said.
“There will never be a ‘Burger Of Gold’ but we will work together to make sure everyone can hear them according to Neil’s conditions.”
This refers to Young’s popular song “Heart of Gold,” from the famous 1972 album of Canadian singer-songwriter “Harvest.”
Last month, Universal Music Group purchased Bob Dylan’s 600-song catalog.