SONG­WRITER’S RIGHTS SNAPPED UP

Scottish Daily Mail - - City&finance -

A BRI­TISH song­writer who crafted hits with Adele and Stor­mzy has sold part of his back cat­a­logue to a mu­sic in­vest­ment firm.

Hipg­no­sis said it had snapped up world­wide in­come rights held by Fraser T Smith to 298 songs, in­clud­ing sev­eral UK and US num­ber one hits. Smith was en­ti­tled to roy­al­ties from 2011’s Set Fire To The Rain by Adele (pic­tured), as well as Sam Smith’s 2014 al­bum In The Lonely Hour. Hipg­no­sis did not dis­close how much it had paid for the in­come rights. The com­pany has raised more than £625m from the mar­kets since it listed in Lon­don in July last year.

Merck Mer­cu­ri­adis, the firm’s founder, said: ‘It’s an hon­our to wel­come Fraser T Smith. He writes and pro­duces enor­mously suc­cess­ful songs that make pop­u­lar mu­sic not only spe­cial but cul­tur­ally im­por­tant.’

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