The-Dream got $23million richer after Hipgnosis Songs Fund Limited, a company recently launched by former EltonJohn and GunsNRoses manager, Merck Mercuriadis purchased 75% of his music catalog.
The partnership will hand Hipgnosis a 75 percent stake in The-Dream’s 302-song catalog, while the remaining 25 percent will be retained. This deal includes 25 Billboard top 10 songs and four Grammy Award trophies, for works either written, co-written or produced by The-Dream. Some of his notable songwriting credits include Rihanna’s “Umbrella,” Bey’s “Single Ladies (Put a Ring on It),” Kanye West’s “All Of The Lights” and countless more.
Confirming the sale of his music catalog, the superstar producer said;
“I’m proud to be part of this beautiful venture,” Dream tells @Variety. “Merck is a music titan who began his career well before I ever imagined having one. His futuristic views captured my attention and instantly made an impact. Merck sees me as I see myself. I sought out to be my generation’s Babyface and Dr. Dre, he sees the same.”
The deal also also offers The-Dream a place in Hipgnosis’ advisory board. Aside capturing the 75 percent stake, Hipgnosis has identified 7 other “pipeline” catalogs which would bring them over the one thousand mark for Global artists charting over the last 50 years.
The arrangement is supposed to help artist develop a low risk strategy for royalty returns. In the year 2018, you can buy stocks in an artist’s body of work.