Photo Credit: Sabrina Carpenter by Raph PH / CC by 2.0
Sony Music Publishing is reportedly in the process of acquiring Hipgnosis Songs Group, according to sources close to the matter.
Emails obtained by Billboard and multiple sources close to the situation have confirmed that Sony Music Publishing is acquiring Hipgnosis Songs Group. According to the emails, the company “has entered into an agreement with Recognition Music Group (RMG) to acquire its subsidiary Hipgnosis Songs Group (HSG), effective immediately.”
The Hipgnosis catalog includes 4,400 copyrights originally held by Big Deal Music, acquired by Hipgnosis in 2020. The copyrights include songs by One Direction, Panic! At the Disco, and Shawn Mendes. Hipgnosis’ Instagram page also reveals their repertoire includes publishing shares of songs like “Espresso,” “Feather,” and “Taste” by Sabrina Carpenter; “Ordinary” by Alex Warren; “Lose Control” by Teddy Swims; and other contemporary hits.
“With this agreement, Sony Music Publishing now owns and administers the Hipgnosis Songs Group catalog, serving as the full-service publisher for its clients and roster of songwriters globally,” reads the email to Hipgnosis songwriters, composers, and clients.
“With a unique roster of contemporary songwriters and timeless classics, HSG aligns with SMP’s mission to elevate and support the work of the world’s most impactful songwriters, and we are honored to represent you and your songs.”
“Over the next few months, we will be transitioning the company to SMP’s services and systems,” the email continues. “We are working closely with HSG to ensure that all clients will receive the high level of service that you have come to expect.”
News of the impending deal comes only three months after Hipgnosis rebranded under the name Recognition Music Group, which now also contains Hipgnosis Songs Fund and Hipgnosis Song Management. At the time, HIpgnosis Songs Group was reported to be under the ownership of Blackstone, who confirmed the division was still under strategic review.
The newly christened Recognition was looking to partner with music companies and publishers for the administration of their assets. According to a source close to the deal, Sony’s acquisition of Hipgnosis is the result of that strategic review, and marks the completion of the company’s rebranding.
Content shared from www.digitalmusicnews.com.