Neil Young sells half his music rights for ‘$150 million’

Neil Young has sold the rights to 50 per cent of his music in a deal that has reportedly earned him $150 million.

The Heart Of Gold hitmaker, 75, has relinquished half the copyright and income interests to 1,180 of his songs to the Hipgnosis Songs Fund, the investment firm revealed on Wednesday.

He follows in the footsteps of Bob Dylan and Stevie Nicks, the Fleetwood Mac star is said to have made a deal with Primary Wave – selling an 80 per cent stake in her music for $100 million last month.

Bob, meanwhile, sold the publishing rights to over 600 songs to Universal Music Publishing Group for a reported sum of between $300 million and $500 billion. 

Merck Mercuriadis, founder of Hipgnosis Songs Fund Limited, shared his delight at making the deal with Neil on Wednesday, saying he bought his first album when he was seven years old.

He gushed: ‘Harvest was my companion and I know every note, every word, every pause and silence intimately. Neil Young, or at least his music, has been my friend ever since.’

Selling up: Last month Stevie (pictured in 2014) is said to have made a deal with Primary Wave, reportedly selling an 80 per cent stake in her music for $100 million

Huge sum: Bob (pictured in 2012) sold the publishing rights to over 600 songs to Universal Music Publishing Group for a reported sum of between $300 million and $500 billion

Merck went on to say his company and the singer ‘have a common integrity, ethos and passion born out of a belief in music and these important songs. 

‘There will never be a Burger of Gold but we will work together to make sure everyone gets to hear them on Neil’s terms.’

In an industry where music sales have dwindled and the concert industry is on hold due to the coronavirus pandemic, song publishing is seen as an increasingly valuable asset. 

Companies generally push for use of an artist’s songs in movies, video games and advertising, Young has previously strongly criticised artists letting their music be used in ads in his song The Note’s For You.

Despite his reservations, it has become much more common for musicians to earn income through advertising campaigns. 

During his career, which has spanned almost six decades, Neil has released a staggering 70 albums as both a solo musician and with bands like Buffalo Springfield, Crazy Horse and Crosby, Stills, Nash & Young. 

Wow! Neil (pictured in 1976) has relinquished half the copyright and income interests to 1,180 of his songs to the Hipgnosis Songs Fund, he has released 70 albums over the years