Neil Young sells 50% of song back catalogue rights to Hipgnosis

Influential songwriter Neil Young has become the latest musician to cash in on his vast back catalogue.

London-listed songs investment fund Hipgnosis  revealed on Wednesday that it has bought 50% of the rights to all the hitmaker’s 1,180 tunes for an undisclosed sum.

Young has released almost 50 studio albums - of which three went multi-platinum - over a decades-long career. 

The star follows in the footsteps of icons such as Bob Dylan and Stevie Nicks, who both sold  rights over the past year as streaming services such as Spotify sign up record numbers of over-50s listeners. 

This consumer base are newly listening to hits of the past in their millions - seeing Fleetwood Mac and David Bowie register among streaming’s top artists last year.

Universal Music Group revealed last month that it had purchased 100% of the rights to Dylan's 600 songs, in a deal estimated to have cost between £150million and £340 million.

Hipgnosis, launched by industry heavyweight and former manager to Beyoncé and Elton John, Merck Mercuriadis, has previously snapped up rights to songs from stars including David Guetta and Blondie.

Just this week the FTSE 250 firm, which floated in 2018, bought 100% of the rights to Fleetwood Mac’s Lindsey Buckingham's 161 songs for an undisclosed sum.

Mercuriadis said of the Young acquisition: “This is a deal that changes Hipgnosis forever and it’s a dream to welcome Neil.”