In totally unrelated news, L.A. just sold his entire music catalogue....
L.A Reid has sold 100% of publishing interests and writer’s share of income in his music catalog, comprising 162 songs, to Hipgnosis Songs Fund.
In addition, Reid is joining the Advisory Board of The Family (Music) Limited – the related company established by Merck Mercuriadis and Nile Rodgers to locate potential acquisition targets for Hipgnosis in the music industry.
Reid's catalogue includes hits by Whitney Houston, Bobby Brown, Boys II Men and TLC.
Fun Fact: Back in July super producer Rodney 'Dark Child' Jenkins also sold his entire music catalogue to Hipgnosis [click here if you missed that].
23 comments:
I guess money is tight for these celebs also...
¯\_(ツ)_/¯
This sounds a lot like Tidal
I don't like this...
Black artists and producers are selling away their royalties at 100% for a literal seat on someone else's company? And then the idea of this European company (yt ppl) having such a high concentration of ownership in black artistry...? That does not sit well with me at all. I have a sneaking suspicion that these yt boys are playing chess and will end up leaving Reid, Dark Child, and the Dream flat broke and tied up in litigation. Smdh.
And I find it interesting that this companys objective is similar to Tidal - considering one half of the groups founding members used to manage Beyonce. And what's also interesting is the rollout of the platform. Notice how they handle the investors and gave them a solid plan without showboating with top artists at press conferences
Nah, something in the milk ain't clean.
Welp I guess they added a enough zero's to the offer and L.A. said yes.
Yup. Something fishy is going on. I wonder how much money was offered for him to be willing to give up 100%.
Nah, sounds like the early beginnings of black power within the music industry. Think Tyler Perry studious but 1000% bigger.
8:51 IKR. These folks are selling off assets/properties left and right, milk smelling funkyyyy.
@9:02 how is it a black power move when the blacks is selling off everything to the white man? Please explain yoself.
9:02 the founder Merck Mercuriadis is not black. This company is registered in Guernsey (UK).
I went to the "Hipgnosis Songs Fund" website and the shi* is soo basic
hell, one of the Disclaimer pages has red markups on it, like they didnt finish editing the page
looks creepy as hell
Niggas just be giving their money and wealth to white folks with ease 🤦🏾♀️
@8:28. These uppidy negroes like FUCK passing down "Generational Wealth" to their children & grandchildren. They just living in the moment & it seems like everyone thats been fortunate is tryna push the bar to get to Billionaire status.
I too, am scratching my head at this like why would you sell your legacy to the same people that fucked over black artists & musicians, Instead of starting a Powerful Black Music Co.?????
Something's not adding up & i refuse to beleive most of the producers mentioned are that broke, broke that they sellibg EVERYTHING.....sumthin fishy
Yes, their family could have some generational wealth with this, but I suspect they never taught their children how to manage such assets, as they themselves can't manage what they created...this is a mess!
Why didn't he give the Artist option to buy-back their catalog? This is what happens when you live above your means and do not transition your money for the future. Our ppl still don't know how to manage money. We have to stop with the excessive purchases to flash off status we don't really have. Nothing last for ever. He has made enough money in his career to be set for life. Another example of slave for the dollar and Yt man. Greedy, just greedy.
Hipgnosis is a publicly traded investment fund (not like Tida). The fund (co-founded by a black person) will pool all of the royalties from all of the songs.
"Following the [IPO] listing, the company reported that it had acquired a 75 percent interest in its first music rights catalog from musician The-Dream".
I am not trying or advocating the purchase of stock, but if you own the stock, then you own shares in the company that now owns these songs...follow the money.
L.A. Reid probably didn't write many songs as a "drummer", but you can best believe he stole his dumb artists publishing--like they all do!
how is it that one ugly dirty stinkin race of people, which have no type of rhythm whatsoever...how is it that these people OWN Black people's music????????
that shit is mind boggling!
then you got this negro handing off his children's inheritance to white people's children
you got to be kidding me!!!!!! you can't even make this shit up!!!
Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey registered investment company established to offer investors a pure-play exposure to songs and associated musical intellectual property rights. The Company has raised a total of over £625 million (gross equity capital) through its Initial Public Offering on 11 July 2018, and subsequent issues in April 2019, August 2019 and October 2019. In September 2019, Hipgnosis transferred its entire issued share capital to the Premium listing segment of the Official List of the FCA and to the London Stock Exchange’s Premi’s Premium segment of the Main Market.
HE IS NOT BROKE. IT'S AN INVESTMENT OPPORTUNITY PLUS A SECOND STREAM OF INCOME.
Thank you @5:21. Try to tell these people as I am sure part of the deal is that the artists also get a portion of stock ownership in the company, thus creating generational wealth. AND also owning parts of top catalogs (think back to MJ buying Sony).
@5:49
So you go from owning 100% of the royalties, to selling your royalties for a seat at someone else's table, who will manage how the royalties are paid out? And this is generational wealth? Generational wealth is retaining ownership and using that ownership to open up corporations that your children and community can benefit from. This company is retaining royalties so that they can pay songwriters a larger fee than what was negotiated. So that means these men are purposely taking a smaller cut than what they would've gain had they not sold their royalties. And what happens when / if the company goes bankrupt? Who retains the royalties? There's not enough information for me or others to understand the benefit of this deal. How will they make money? How does this equate to generational wealth?
Something ain't right and come to think about it....Clive Davis,Diddy,Russell Simmons and all these other music moguls is about to be investigated...Not to mention that Ghislaine Maxwell lost the decision to keep Epstein's files closed....Its about to go DOWN in 2020...��������
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