RED HOT CHILI PEPPERS Sell Catalog For $140 Million
According to Rolling Stone, RED HOT CHILI PEPPERS are are selling their publishing rights to Hipgnosis Songs Fund for around $140 million.
One of the most successful acts in rock history, RED HOT CHILI PEPPERS, which is singer Anthony Kiedis, bassist Flea, drummer Chad Smith, and guitarist John Frusciante, have sold more than 60 million albums, including five multi-platinum LPs, and won six Grammy Awards, including «Best Rock Album» for «Stadium Arcadium», «Best Rock Performance By A Duo Or Group» for «Dani California», «Best Rock Song» for «Scar Tissue» and «Best Hard Rock Performance With Vocal» for «Give It Away». The band was inducted into the Rock And Roll Hall Of Fame in April 2012.
RED HOT CHILI PEPPERS‘ latest album, «The Getaway», debuted at No. 1 on the Billboard Album Sales chart and at No. 2 on the Billboard 200 upon its release in 2016. «The Getaway» marked the band’s seventh top 10 album and third No. 2 on the Billboard 200 chart. The LP debuted at No. 1 in Australia, Belgium, Ireland, Netherlands, and New Zealand and at No. 2 in the United Kingdom and Germany.
Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey registered investment company established to offer investors a pure-play exposure to songs and associated musical intellectual property rights. The company has raised a total of over £1.1 billion (gross equity capital) through its initial public offering on in July 2018, and subsequent issues in April 2019, August 2019, October 2019, July 2020, September 2020 and February 2021.
Major artists, songwriters, and producers — including Shakira, Neil Young, Lindsey Buckingham of FLEETWOOD MAC, RZA of the WU-TANG CLAN and Debbie Harry of BLONDIE — have sold part or all of their catalogs to Hipgnosis.