Hipgnosis Track Administration has acquired 80% of nation celebrity Kenny Chesney’s recorded music royalties.
The deal is the primary acquisition made by Hipgnosis since its new $1 billion partnership with Blackstone, introduced in October, to amass music rights and handle catalogs and can also be Hipgnosis’s first take care of a rustic celebrity.
The pact covers Chesney’s recorded music royalties over a 23-year interval, from 1994’s In My Wildest Goals, his debut on Capricorn Information, via 2017’s Stay in No Sneakers Nation. Chesney recorded for Sony Music Nashville imprints from 1995 to 2017. The deal additionally contains future best hits, stay and acoustic albums.
Chesney switched to Warner Music Nashville in 2018 and the deal doesn’t embody any of his recorded music royalties for 2018’s Songs for the Saints and 2020’s Right here and Now launch on his new label house. Nonetheless, the settlement does embody Sound Alternate and neighboring rights royalties for all albums in Chesney’s catalog, together with the Warner Music Nashville releases.
Chesney’s catalog spans 22 albums, together with 17 No. 1s on Billboard’s Nation Albums chart.
Hipgnosis didn’t reveal any monetary particulars of the deal, nevertheless; nation music royalty offers — each grasp recordings and publishing — are likely to lag behind these for pop and rock. “Nation depends on radio, and when radio stops taking part in a rustic track, its royalty streams decay quickly,” Shot City Capital’s co-founder/managing accomplice David Dunn instructed Billboard in December 2020. “Additionally, nation doesn’t synch in addition to rock and pop. It simply doesn’t have the broad attain of rock and pop on a worldwide foundation.”
