Red Hot Chili Peppers Sell Catalog to Hipgnosis Songs for Upwards of $140 Million

Red Hot Chili Peppers Sell Catalog to Hipgnosis Songs for Upwards of $140 Million

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5/4/2021 2:43:00 AM

Red Hot Chili Peppers Sell Catalog to Hipgnosis Songs for Upwards of $140 Million

The Red Hot Chili Peppers are selling their song catalog to Hipgnosis Songs for upwards of $140 million, sources confirm to Variety, making them the latest heritage artist to benefit from the intel…

; at the time of this article’s publication, it was unclear whether the deal had fully closed.The Chili Peppers’ catalog was largely written by the band’s key members since 1989 —singer Anthony Kiedis, bassist Flea, drummer Chad Smith and guitarist John Frusciante, who recently returned for his third stint with the group. As reported by Billboard, the catalog is administered by Moebetoblame Music, under the guidance of lawyer Eric Greenspan, managing partner of the law firm Myman, Greenspan, Fox, Rosenberg Mobasser, Younger & Light LLP. Sources say Greenspan shopped the deal for the band. It also reported that the group’s catalog generates $5 million to $6 million in net publishers’ share.

Read more: Variety »

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Red Hot Chili Peppers to Sell Song Catalog to Hipgnosis for Upwards of $140 MillionThe Red Hot Chili Peppers are selling their song catalog to Hipgnosis Songs for upwards of $140 million, sources confirm to Variety, making them the latest heritage artist to benefit from the intel… Give it away give it away give it away now for $140 million Give it away give it away give it away now for $140 million Give it away give it away give it away now for $140 million Art for art’s sake. Money for God’s sake! Who’s surprised? Those lifestyles, once addicted to them, are expensive. They have kids, kids need to go to school, issue needs, ex wives, so eventually they bank on their, erm, art. Next will be biographies and docuseries. It’s all good. Breaking! RHCP get absolutely lowballed 😏

Red Hot Chili Peppers Sell Catalog to HipgnosisThe $140 million sale marks the latest sale from a major legacy artist to a music investment fund — and one of the biggest purchases for Merck Mercuriadis to date Playbacks as well I have been waiting for red hot chill pepper ever since 2017. This amount seems low

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Billboard ; at the time of this article’s publication, it was unclear whether the deal had fully closed. The Chili Peppers’ catalog was largely written by the band’s key members since 1989 —singer Anthony Kiedis, bassist Flea, drummer Chad Smith and guitarist John Frusciante, who recently returned for his third stint with the group. As reported by Billboard, the catalog is administered by Moebetoblame Music, under the guidance of lawyer Eric Greenspan, managing partner of the law firm Myman, Greenspan, Fox, Rosenberg Mobasser, Younger & Light LLP. Sources say Greenspan shopped the deal for the band. It also reported that the group’s catalog generates $5 million to $6 million in net publishers’ share. Reps for Hipgnosis and the band did not immediately respond to Variety ‘s requests for comment; Greenspan could not be reached for comment. Change is in the air for the group, which left Q Prime, its managers for more than 20 years, last fall, and recently confirmed that they have signed with Madonna/U2 manager Guy Oseary . Hipgnosis, of course, has been on a catalog-acquisition binge that is unparalleled in music industry history and has driven up the price of song catalogs exponentially. In just two weeks early this year it acquired half of Neil Young’s catalog, as well as those of Fleetwood Mac veteran Lindsey Buckingham, producer/executive Jimmy Iovine amd Shakira. In just under three years, Hipgnosis has acquired catalogs by such hitmakers as Timbaland, Pretenders frontwoman Chrissie Hynde, Wu-Tang Clan’s RZA, Blondie, Barry Manilow, Jeff Bhasker and many more.