Hipgnosis Songs Fund Annual Revenue Jumps 25 Percent, CEO Touts Music Streaming Outlook Despite Economic Clouds
Hipgnosis on Thursday also highlighted that its portfolio now includes 146 catalogues with 65,413 songs with an aggregate value of $2.69 billion. It acquired eight catalogues in the latest fiscal year, with songs from the likes of the Red Hot Chili Peppers, Christine McVie of Fleetwood Mac, Ann Wilson of Heart and Rhett Akins.
“Over the last four years we have acquired an incomparable portfolio of some of the most successful and culturally important songs of all time, now valued at $2.7 billion,” said Mercuriadis, who also serves as CEO of Hipgnosis Song Management, the fund’s investment adviser. “The unique strength of our catalogue is demonstrated by the 9.9 percent increase in the operative net asset value to $1.8491 per share, as reported by our independent portfolio valuer.
He also addressed current economic clouds and rising inflation. “As we look forward, we continue to expect strong global revenue growth driven by the continued adoption of paid-for
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