Music IP investment and song management company Hipgnosis has made another huge purchase, acquiring 105 songs from prolific music producer Andrew Watt for “upwards of $45 million” according to an estimate from Music Business Worldwide. The songs that Hipgnosis acquired reportedly received $1.27 million in 2017, $3.41 million in 2018, and $4.34 million in 2019, with a mean revenue of over $3 million per year.
The tracks that Hipgnosis acquired include hit songs such as “Señorita” by Shawn Mendes and Camila Cabello, “Havana” by Camila Cabello and Young Thug, “Let Me Love You” by DJ Snake and Justin Bieber, “Eastside” by Benny Blanco, Halsey and Khalid and “Youngblood” by 5 Seconds Of Summer.
This purchase comes off the heels of Watt’s massive Grammy win, which saw him receive producer of the year thanks to his work with Miley Cyrus, Post Malone and Ozzy Osbourne. Hipgnosis has also been making waves this year, acquiring the entire or partial catalogs of the Red Hot Chili Peppers, Shakira and Bob Rock during the past year.
“It is amazing to be welcoming Watt to the Hipgnosis Family just as he has been awarded the ‘Producer Of The Year’ Grammy for his work with Miley Cyrus, Post Malone et al, and as he has been Number 1 all over the world with Justin Bieber,” Merck Mercuriadis, Founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited told Music Business Worldwide. “He is arguably the most important writer and producer in the world today and I don’t use those words lightly. Watt and Scooter are an incredibly important part of our future.”