Hipgnosis Songs Fund Ltd (LON:SONG) has acquired a music catalogue from Brendan O'Brien, a producer, mixer, engineer and musician who has worked on music with AC/DC, Bruce Springsteen, The Killers, Red Hot Chili Peppers, Rage Against the Machine and Pearl Jam.
The company, which makes money through exposure to songs and related intellectual property rights, now owns a 100% interest in the catalogue, comprising producer royalties for 1,855 works.
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While the royalty to the artist is around 15% of the sales price of the audio product, a music producer usually receives between 3% and 4%.
The catalogue includes AC/DC's Black Ice which reached Number 1 in 29 countries, The Killers UK platinum-selling album Battle Born, the Red Hot Chili Peppers' breakthrough album Blood Sugar Sex Magik and Bruce Springsteen's Grammy award-winning comeback album The Rising.
“It is very easy to state that Brendan O'Brien is one of the greatest producers of all time and certainly defines the best rock music of not only the 90s but the last 30 years,” Hipgnosis founder Merck Mercuriadis said in a release.
“Almost every artist he has helped develop has entered or will enter the Rock And Roll Hall Of Fame for good reason.”