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    SOND   GG00BFYT9H72

HIPGNOSIS SONGS FUND LIMITED

(SOND)
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Hipgnosis Songs Fund : Blackstone, Hipgnosis partner to invest in music as online streaming booms

10/12/2021 | 08:25am EST
Headset seen in front of displayed Hipgnosis logo in this illustration taken

Oct 12 (Reuters) - Blackstone said on Tuesday it would deploy around $1 billion in partnership with an advisory firm owned by music executive Merck Mercuriadis to buy music rights and record songs as online streaming gains popularity and becomes more lucrative.

As part of the partnership, Blackstone will take an ownership stake in Hipgnosis Song Management, an adviser to the London-listed music catalogues investor Hipgnosis Songs Fund (SONG).

The pandemic and lack of live concerts has prompted artists, including Bob Dylan, to monetise some of their older work, at a time streaming services have been garnering listeners.

Mercuriadis, founder and CEO of Hipgnosis Song, has sealed deals with several artists this year including Shakira, Taylor Swift songwriter Joel Little, Neil Young as well as Metallica producer Bob Rock.

"This new partnership with Blackstone will deliver financial strength to invest in proven songs," Mercuriadis said in a statement.

SONG will also benefit from the Blackstone investment as it would be able to co-invest in the acquisition of future music rights, the companies said.

Blackstone has a growing interest in music, and has also invested in MNRK Music, formerly known as eOne Music, and SESAC.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Vinay Dwivedi)


ę Reuters 2021
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Financials
Sales 2022 125 M 166 M 166 M
Net income 2022 -13,8 M -18,3 M -18,3 M
Net Debt 2022 387 M 514 M 514 M
P/E ratio 2022 -106x
Yield 2022 4,18%
Capitalization 1 521 M 2 026 M 2 019 M
EV / Sales 2022 15,3x
EV / Sales 2023 13,7x
Nbr of Employees 35
Free-Float 99,9%
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Technical analysis trends HIPGNOSIS SONGS FUND LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 1,28 GBX
Average target price 142,50 GBX
Spread / Average Target 11 033%
EPS Revisions
Managers and Directors
Andrew Lang Sutch Chairman
Simon Holden Independent Non-Executive Director
Vania Schlogel Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
HIPGNOSIS SONGS FUND LIMITED1.70%2 014