Legendary musician of Canadian descent, Neil Young sold about half a stake in his songs to Hipgnosis Songs Fund, a British investment company. The company lets people invest in hit songs.
According to company owner Merck Mercuriatis, the company specializes in marketing hit songs through different products and settings. He also added that some of the biggest publishing houses out there can have as many as 20,000 such songs allocated for each person.
The company currently operates between ratios of 500 to 1,000 per person. So, the utilization of those songs in movies and commercials is done more accurately. Hence, the songs need to be on the right audio-sharing platforms under the right playlists for exposure.
Mercuriatis is also a musician from Canada who was born in Quebec. He is a diehard fan of Neil Young since his childhood days. The 57-year-old businessman says that he has been listening to Young’s works for the past 50 years. He says that the value of his music even after so many years and generations is because they hold meaning in them which cannot be altered. His conduct reflects in his music and that is why is so dearly loved by his fans from all over the world.
He was lucky enough to befriend Young’s manager, the late Eliot Roberts, and also the artist himself.
He also explains Young’s decision. He says that this deal was confirmed because he is now standing at a point in his life where he wants to preserve his music for the future.
However, there has been no official statement issued by Young regarding the deal. Mercuriatis wants some of his lesser-known songs to get the right acknowledgment after all these years.
This news has paved the way for controversy. Audiences are quick to react to decisions without delving into the real reason behind them.
In fact, last month only, Bob Dylan sold the publishing rights to his entire discography consisting of more than 600 songs for something between $300 and $500 million.
Also, Fleetwood Mac member Stevie Nicks sold her music recently for $100 million.
Although the terms of the deal signed by Neil Young have still not been disclosed, it is estimated to be around $150.
Mercuriatis says that the artist has retained 50% ownership of his songs.
He says that he aims at exposing Neil to the best of opportunities. However, the decision completely resides in Young’s hands.
Some critics have pointed out the drawback to this trend. He says that the relationship of these classics with the audience might be altered because of this.
Bringing the virtue of business in music can be of a negative impact on some. But they also need to understand that it is a part of the preservation of music in the fast-paced dynamics of the music industry. Mercuriatis has reassured that all of Young’s music will be taken care of by the best hands.