Hipgnosis snaps up producer Jimmy Iovine’s entire back catalogue in latest move for listed song rights fund

A London-listed song rights investment fund launched by a former manager to Beyoncé and Elton John has snapped up record producer Jimmy Iovine’s entire back catalogue.

Merck Mercuriadis’ FTSE-250 firm Hipgnosis has raised more than £1 billion from investors since 2018.

The company has used the funds to buy rights to hits from pop artists such as David Guetta and to prime golden oldie tracks - including songs by Barry Manilow and Dave Stewart - just as millions of over-50s sign up to streaming services such as Spotify. In 2020, Fleetwood Mac, David Bowie and Eminem came in among streaming’s top artists.

Iovine co-produced 8 Mile, the 2002 film starring Eminem that saw its soundtrack - which included world-wide hit Lose Yourself - go 4x platinum.

Hipgnosis acquired the producer’s 259-song catalogue - which also includes albums created with John Lennon and Bruce Springsteen - for an undisclosed sum.

Iovine is to use the funds to build a high school in inner-city Los Angeles.