Hipgnosis Songs Fund - Acquisition of Johnny McDaid Music Catalogue
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited and its Investment Adviser, The Family (Music) Limited, are pleased to announce that the Company has acquired a music catalogue from songwriter, producer and Snow Patrol keyboardist Johnny McDaid. Johnny has co-written songs with Ed Sheeran, Pink, Shawn Mendes, Robbie Williams and Snow Patrol that have streamed over 20 billion times and earned over 600 platinum awards and 14 diamond awards.
Collaborating closely with Ed Sheeran since 2013, Johnny McDaid co-wrote the most streamed song of all time with the record breaking 'Shape Of You' which to date has been streamed over 2.3 billion times. In addition to winning a Grammy and an Ivor Novello Award, 'Shape Of You' reached Number 1 on the singles chart in 34 countries including the US' Billboard Hot 100, where it remained Number 1 for a record equalling 16 consecutive weeks and is certified diamond in five countries including in the US. 'Shape of You' has sold over 40 million singles and has had over 4 million radio performances. Johnny McDaid also co-wrote 'Photograph' which is the 13th most streamed song of all time with 1.3 billion streams and is certified 4x platinum in the US and 3x platinum in the UK.
Johnny McDaid co-wrote five songs on Ed Sheeran's 'x' album which was nominated for two Grammy Awards, reached Number 1 in 15 countries including the UK, where it is the 20th best selling album of all time having been certified 11x platinum and the US where it is certified 4x platinum as well as co-writing and or producing eight songs on his Grammy Award winning '÷' album which reached Number 1 in 14 countries including the UK where it is certified 11x platinum and the US where it is certified 4x platinum. These include the US platinum and UK 3x platinum hit 'Galway Girl', the US and UK platinum certified 'Tenerife Sea', the UK platinum certified 'Supermarket Flowers', the UK platinum certified 'What Do I Know?' and the UK Number 2 'Bloodstream'.
The Catalogue also includes Pink's Grammy Award nominated 'What About Us' which is certified platinum in the US and UK and reached Number 1 in nine countries, as well as songs by Robbie Williams, Shawn Mendes, Keith Urban, Faith Hill and Tim McGraw, Example, Rudimental, Biffy Clyro and Birdy.
Hipgnosis has acquired 100% of Johnny McDaid's interest in his catalogue of songs released before 1 April 2019 which comprises 91 songs.
Johnny McDaid was represented by his manager Erik Eger, business manager Kevin McCullough, lawyer Willie Ryan, and spearheaded by attorney Michael Poster of Michelman and Robinson.
Merck Mercuriadis, Founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited, said:
"It's hard to have some of the biggest songs in the world and yet still be so underrated but Johnny is one of the most extraordinary creators and his work with Ed and so many others speaks for itself and it's an honour to welcome him and Erik to the Hipgnosis family."
Erik Eger said:
"Merck's background as an artist manager enabled him to quickly understand what was important to Johnny in this deal and deliver on it. Johnny and I are encouraged by Merck's mission of advocating for songwriters and wish him every success in this endeavor."