Daily Banking News

Red Hot Chili Peppers to sell music catalogue to Hipgnosis Song Fund Ltd

The deal is reportedly for US$140mln and will see the music royalty firm acquire the rights to a number of the rock band’s major hits such as Californication and Under the Bridge

Rock bank Red Hot Chili Peppers have become the latest music artists to tap their song catalogue for cash after reportedly clinching a US$140mln deal with music royalty investment firm Hipgnosis Song Fund Ltd ().

The deal, which was first reported on Monday night by Billboard, the catalogue will include some of the band’s biggest hits including Californication and Under the Bridge, although Hipgnosis has declined to comment on the deal, which has yet to be formally announced by either party.

READ: Hipgnosis harvests music back catalogue rights from Neil Young

Buying the Chili Peppers’ catalogue will be another major win for the firm, which back in January snapped up 50% of the rights to the back catalogue of Neil Young, the singer-songwriter who has railed against ‘selling out’ and commercialization his entire career.

READ: One Media acquires writers royalties to Kid Creole and the Coconuts catalogue

Hipgnosis isn’t the only London-listed music royalty fund on the acquisition trail either, with digital music rights firm PLC () announcing this morning that it has acquired the writer’s share to the royalties of more than 250 tracks of Kid Creole and the Coconuts.

Shares in Hipgnosis were down 0.5% at 121.8p in late-afternoon trading on Tuesday.

Read More: Red Hot Chili Peppers to sell music catalogue to Hipgnosis Song Fund Ltd

Get real time updates directly on you device, subscribe now.

Notify of
Inline Feedbacks
View all comments

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.