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Prices & Quotes - UK Markets - Hipgnosis Songs Fund Limited NPV (SONG)

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David Crosby sells music catalogue to Iconic Artists Group

By Frank Prenesti

Date: Thursday 04 Mar 2021

LONDON (ShareCast) - (Sharecast News) - David Crosby has become the latest major artist to sell his music and catalogue, as he blamed the inability to perform live during the Covid-19 pandemic.

Irving Azoff's Iconic Artists Group (IAG) bought Crosby's recorded music and publishing rights to his entire music catalogue - including the works of the Byrds, Crosby & Nash, Crosby Stills and Nash, and Crosby Stills Nash and Young - for an undisclosed sum.

"Given our current inability to work live, this deal is a blessing for me and my family and I do believe these are the best people to do it with," Crosby said in a press release.

He announced his intention to sell in December after stars such as Bob Dylan and Lindsey Buckingham did deals on their own catalogues. His former bandmate Neil Young followed suit in January.

Dylan's sale of his complete song catalogue to Universal Music in December was reportedly worth more than $300m (225m). Young sold 50% of his entire song catalogue to Merck Mercuriadis's Hipgnosis fund in January.

Last month, IAG bought a controlling stake in the music catalogue of the Beach Boys, including their sound recordings, brand, select compositions and memorabilia, also for an undisclosed sum.

"If we could get paid for records and play live we would not be doing it. None of us," Crosby said last December in response to criticism from one fan concerned that his iconic music would now be used for commercial endorsements.

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SONG Market Data

Currency UK Pounds
Price 121.20p
Change Today 0.000p
52 Week High 126.00p
52 Week Low 103.00p
Volume 691,228
Shares Issued 1,082.44m
Market Cap 1,311.92m
Beta 0.00

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SONG Dividends

  Latest Previous
  4th Interim 3rd Interim
Ex-Div 06-May-21 28-Jan-21
Paid 28-May-21 18-Feb-21
Amount 1.31p 1.31p

Trades for 13-May-2021

Time Volume / Share Price
16:35 36,441 @ 121.20p
16:29 424 @ 121.20p
16:29 75 @ 121.20p
16:29 1 @ 121.20p
16:29 2 @ 121.40p

SONG Key Personnel

Chair Andrew Sutch