The fast-rising Hipgnosis Songs Fund Limited continues its aggressive growth surge, acquiring a catalog from songwriter-producer-artist Timbaland that comprises 108 albums and songs.
Timbaland is one of the most successful songwriter-producers in the hip-hop/R&B realm: The catalog includes hits by Justin Timberlake, Missy Elliott, Aaliyah, Jay-Z, Nelly Furtado, 50 Cent, Madonna, 2Pac, Rihanna, Drake and many others.
Timberlake’s albums, all of which include significant Timbaland contributions, have sold “an aggregate” 32 million copies globally, according to the announcement, and include such smash singles as “SexyBack,” “My Love” and “What Goes Around…Comes Around.” Furtado’s “Loose” album has sold more than 12 million copies globally and includes the hit singles “Promiscuous” and “Maneater.”
Timbaland’s solo efforts include his platinum 2007 album “Shock Value,” which includes the hits “Give It to Me” (featuring Timberlake and Furtado) and “The Way I Are.”
Hipgnosis cofounder Merck Mercuriadis 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.”
Timbaland said: “Merck is a visionary who I know appreciates the value of my musical life work. My music is in great hands.” His manager, Gary Marella, 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.”
In August, Hipgnosis raised $62.8 million — which, combined with the initial $265 million it raised before the company debuted on the London Stock Exchange last July, and an additional $185 million it raised earlier this year, put the company above $500 million raised to date.
Sources tell Variety that Hipgnosis is on the verge of making a major production rights deal — a trend that was profiled in Variety earlier this week — and Mercuriades said recently that the company is in the process of staking a foothold in the U.S. by acquiring a pair of Los Angeles-based publishing companies, although he declined to reveal which ones.
Founded by Mercuriades and Chic cofounder Nile Rodgers, the company has acquired full or partial stakes in the catalogs of many songwriters who have enjoyed multiple global hits, including The Chainsmokers, Eurythmics’ Dave Stewart, The-Dream, Tricky Stewart, Poo Bear, the late Chic co-founder Bernard Edwards, Johnta Austin and Sean Garrett. Its holdings now include more than 6,000 songs worth more than $1.3 billion, it recently told investors.