Hipgnosis Songs Fund - Acquisition of 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 Timbaland, an American record producer, rapper, singer, songwriter and DJ who is widely regarded as the most successful and influential producer in the history of Hip Hop.
Timbaland has received 13 Grammy Award nominations, winning two, and has produced some of the most important albums of the last 25 years including Nelly Furtado's 'Loose', three Platinum and Multi-Platinum Missy Elliot albums and all of Justin Timberlake's albums which have reached Number 1 across the world.
'Loose', released in 2006, was Nelly Furtado's first Number 1 album selling over 12 million copies globally and includes the US Number 1 singles 'Promiscuous' and 'Say it Right' in addition to the iconic Platinum certified 'Maneater'.
Justin Timberlake's albums have sold an aggregate 32 million copies globally and include the 2006 hit Songs 'SexyBack' which was certified 3x Platinum in the US and reached Number 1 in 9 Countries including the US and UK; 'My Love' and 'What Goes Around...Comes Around', both Number 1s and certified Platinum in the US as well as the 3x Platinum 'Suit and Tie' released in 2012.
The Catalogue also contains Songs performed by some of the biggest global Hip Hop and R&B artists such as Aaliyah, Jay-Z, 50 Cent, Madonna, 2 PAC, Rihanna, OneRepublic and Drake. These include Jay Z's 4x Platinum 'Holy Grail' featuring Justin Timberlake released in 2011 and Aaliyah's US Number 1 'Try Again' released in 2000.
In addition, Timbaland has had significant commercial success as a solo artist with his 2007 Platinum album 'Shock Value' which featured the US Number 1s 'Give It to Me' featuring Nelly Furtado and Justin Timberlake; 'Apologise' featuring OneRepublic; and the 3x Platinum 'The Way I Are' featuring Keri Hilson, D.O.E. and Sebastian.
The Timbaland catalogue that Hipgnosis has acquired comprises 108 albums and songs.
Merck Mercuriadis, Founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited, said:
"Ask any of today's greatest creators who their biggest influences are and the one name that appears on everybody's list is Timbaland. His iconic records with Aaliyah, Jay Z, Missy Elliot, Nelly Furtado, and Justin Timberlake amongst many others are iconic and will be remembered forever."
"Merck is a visionary who I know appreciates the value of my musical life work. My music is in great hands."
Gary Marella, Manager to Timbaland, said:
"It's important to all creators that their work is in the right hands. Merck's respect for music creators is unparalleled. We are pleased to have part of Tim's iconic catalogue with Merck and Hipgnosis."