BLACKSTONE STRIKES GOLD: $3 BILLION MUSIC EMPIRE UNDER A NEW NAME!
Say Goodbye to Hipgnosis! Get Ready for RECOGNITION – The New Music Monarch!
Hold onto your headphones, folks! Blackstone has just flipped the script on the music investment game, rebranding its $3 billion powerhouse from Hipgnosis to the electrifying RECOGNITION! And guess what? They’re already set to dive back into the song-buying frenzy, barely a year after snatching up rights to hits from the likes of Red Hot Chili Peppers and Shakira!
A MEGA REBRAND WITH A MEGA PORTFOLIO!
With RECOGNITION at the helm, this newly consolidated force is armed with a jaw-dropping collection of over 45,000 songs from more than 145 legendary catalogues! Yes, you heard that right – that means music from icons like Fleetwood Mac, Neil Young, and Justin Bieber is part of their arsenal!
CEO Ben Katovsky proclaims that this transformation will operate in a “fundamentally different” way, merging the magic of three separate businesses into one colossal entity. This new structure will unleash a tidal wave of investment in music rights, elevating it to a prime asset class generating cash from streaming, radio, and live performances!
BID WARS AND BILLIONS!
This mega-deal didn’t come easy. Blackstone triumphed in a fierce bidding war against the Concord investment group, sealing the deal for the Hipgnosis Songs Fund with an eye-watering $1.6 billion bid. Who knew music rights could be such a hot ticket?
A PROMISING FUTURE FILLED WITH TUNES!
Katovsky isn’t just talking the talk; he’s walking the walk, investing in cutting-edge technology to pump up the value of these assets! Expect to see more of these anthems on your screens and airwaves as RECOGNITION aims to supercharge royalty collections worldwide!
Qasim Abbas from Blackstone reveals they’re on the hunt for even more music portfolios! Blackstone is all in on this market, banking on “predictable long-term cash flow” as they aim to cement their spot as the “leading independent investor in music rights.”
A MUSICAL REVOLUTION IS HERE!
With the climate ripe for institutional investments in music, get ready for a revolution in how we think of music rights. As RECOGNITION scales new heights, they pledge to keep quality high and acquisitions smart. “We have a strong ambition to grow,” asserts Katovsky, teasing a future where RECOGNITION might just redefine the music investment landscape forever.
Strap in for an unforgettable ride as this music titan takes center stage! Your playlists may never sound the same again! 🎶
photo credit: www.ft.com
