(CelebrityAccess) – Hipgnosis Songs Fund has inked another major catalog deal, this time with EDM duo The Chainsmokers.
The publicly traded UK-based company headed up by industry veteran Merck Mercuriadis, has purchased 100% of the Chainsmokers’ interest including ASCAP (American Society of Composers, Authors and Publishers) income in their catalog, which is made up of 32 Chainsmokers’ songs as well as 10 additional songs written by Andrew Taggart, who co-founded the group alongside Alex Pall in New York in 2012.
Included among the 32 Chainsmokers’ tracks purchased by Hipgnosis are “Don’t Let Me Down” featuring Daya, which reached number one on the Hot Dance/Electronic Songs chart, won best dance recording at the 2016 Grammys and has been streamed over 1.2 billion times globally; “Closer” featuring Halsey, which topped the Hot 100 for 12 consecutive weeks and has racked up 1.6 billion streams; as well as top 10 hits “Paris,” “Roses” and the 2017 Coldplay collaboration “Something Just Like This,” among numerous others.
The Grammy-nominated “1-800-273-8255” by Logic featuring Alessia Cara and Khalid is one of 10 additional songs written or co-written by Andrew Taggart.
Commenting on the company’s latest acquisition, Mercuriadis in a statement: “The Chainsmokers are the highest paid duo in the world not only because they know how to spin records better than anyone else but because they have created amongst the very biggest hits in the world for the dance and pop community over the last 7 years. This is a set of songs that people can’t stop playing and that will define the lives of so many people that have grown up in the 2010’s. It’s my pleasure to welcome Alex, Drew and Adam to the Hipgnosis Family!”
Since first breaking through with their 2014 viral hit “#Selfie,” The Chainsmokers have become one of the world’s biggest dance-pop acts with 41 million monthly listeners on Spotify, more than 240 Top 10 Chart positions, and more than 50 number ones globally.
Earlier this month, Hipgnosis acquired the catalog of US-based hitmaker Benny Blanco. The company also owns full or partial stakes in the music catalogs of The-Dream, Tricky Stewart, Poo Bear, Chic co-founder Bernard Edwards, songwriting trio TMS, Giorgio Tuinfort, Ari Levine, Sam Hollander, Johnta Austin, Sean Garrett, Rico Love and Itaal Shur, best known for co-writing the Santana and Rob Thomas smash hit “Smooth.”
