Blackstone Officially Announces $1B Investment in Music Assets With Hipgnosis

Merck Mercuriadis attends the 2020 Billboard Power List Event at NeueHouse Hollywood on Jan. 23, 2020 in Los Angeles.

Under the deal, Blackstone will take an ownership stake in Hipgnosis Song Management and support its expansion.Merck MercuriadisThrough the new partnership, funds managed by Blackstone will contribute $1 billion to acquire music rights and manage catalogs in tandem with Hipgnosis Song Management , formerly known as The Family -- the investment advisor to the publicly-traded Hipgnosis Songs Fund, which Mercuriadis founded and for which he also offers up music assets for the fund to buy.

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Blackstone to Take Stake in Hipgnosis, Commits $1B to Music Investment Partnership'This partnership underscores the long-term, sustainable value we see in creative content across the wider entertainment industry, building on Merck’s vision and dynamism,' says the investment firm. Music licensing. The part of the industry that actually does make money off of music.
Source: THR - 🏆 411. / 53 Read more »