Journey’s Don’t Stop Believin’ becomes second-ever classic tune to reach 1 billion Spotify streams

London-listed songs investment fund, Hipgnosis, has revealed Journey's 'Don't Stop Believin' has reached 1 billion streams on Spotify - a milestone only previously achieved by Queen's Bohemian Rhapsody.

The FTSE-250 firm, which has raised more than £1 billion from investors since floating in 2018, co-owns the hit.

It comes after Fleetwood Mac and David Bowie registered among streaming's top artists last year, as services signed up record numbers of over-50s listeners.

Don't Stop Believin, which is the most streamed record on Spotify from the 1980s, also saw its listener numbers boosted after the tune was parodied by YouTube stars LadBaby and their Don't Stop Me Eatin became Britain's 2020 Christmas Number 1.

Hipgnosis has been on a blockbuster buying spree this year, snapping up rights from artists spanning the decades - from Michael Bublé albums to music by Neil Young, and Shakira's entire 145-song back catalogue.

The fund was launched by industry heavyweight and former manager to Beyoncé and Elton John, Merck Mercuriadis.

He noted that even The Beatles songs have not hit 1 billion Spotify streams, and said: "As streaming hits all-time highs, this demonstrates the enduring power of classic proven songs and the public demand for them."