Jimmy Iovine Sells Royalties To Worldwide Producer Hipgnosis || LATEST HIP HOP NEWS AND RUMOURS

Jimmy Iovine Sells Royalties To Worldwide Producer Hipgnosis LATEST HIP HOP NEWS AND RUMOURS

So, it’s a new year and once again Jimmy Iovine sells royalties to worldwide producer Hipgnosis. Hipgnosis continues its strategies of buying big catalogues from hit making producers and songwriters.

Jimmy Iovine sells royalties to Hipgnosisis Song Fund for an undisclosed sum. Jimmy Iovine is the latest producer to sell off worldwide rights to his producer royalties. It has acquired the veteran musician’s worldwide producer royalties across 259 recording. In addition to movie production royalties for Eminem’s 8 Mile and 50 Cent’s Get Rich Or Die Tryin’.

Moreover, Iovine is the one who co-founded Interscope Records and launched music starts. He is also the co-founder of Beats By Dre. In 2014 Beats By Dre was sold to Apple for 3bn dollars.

Besides, he has also said that he will be using the money to build a high school in South LA under the USC Iovine and Young Academy initiative.

Hipgnosis Song Fund founder Mereck Mercuriadis said: “While barely in my teens I noticed that so many of my favourite albums had one name in common. The best albums by John Lennon, Bruce Springsteen, Patti Smith all had Jimmy Iovine on them. The continued through the 80’s with Stevie Nicks, Dire Straits, U2, Simple Minds, The Pretenders and more from Tom and Patti.”

Previously, catalogues from L.A. Reid, RZA, The Dream and No.I.D. among others are also acquired by Hipgnosis. They also brought 42 catalogues from Kobalt Music Copyrights in November; which includes songs from Beyonce, 50 Cent, Justin Bieber and more well known artist.

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