Merck Mercuriadis is launching a fresh version of Hipgnosis Songs Fund, the music rights venture he founded in 2018, as investors return to the sector following a bruising correction.
In an interview with the Financial Times, the former Guns N’ Roses manager said his new business would give artists and managers majority ownership, shifting power from record labels.
Mercuriadis, who sold Hipgnosis to Blackstone last year, says his new company has secured investor backing in the “hundreds of millions” and is eyeing its first deals.
He plans to acquire music catalogues and build a collective of top artist managers, while also pushing for better streaming pay for songwriters. “The work that we started is not complete yet,” he told the FT.