Metallica producer Bob Rock sells rights to over 40 tracks
© Reuters. Rock and Arden arrive in Vancouver for the 2018 Juno Awards
(Reuters) – Record producer Bob Rock has sold its share of rights to a catalog of 43 songs, including the self-titled album by heavy metal band Metallica and singer Michael Bublé’s “Call Me Irresponsible” to Hipgnosis Songs Fund, the latest Music insiders lucrative record catalogs as the explosion of online streaming attracts investors.
The COVID-19 pandemic has spurred a growing list of music industry professionals to monetize their older work by selling valuable tracks and albums as the global health crisis has virtually paralyzed live concert income.
London-listed investment firm Hipgnosis announced a discounted placement offer of its common shares on Thursday along with the deal, which according to agreements with Shakira and Neil Young will be at least the fifth for the company this month.
“The breadth of Bob Rock’s tremendous successes is unmatched by any creator in music history,” said Merck Mercuriadis, founder of Hipgnosis Songs, who was previously the manager of artists Elton John and Beyoncé.
Rock co-produced Metallica’s 1991 self-titled album, most commonly referred to as “The Black Album”, which features hits such as “Nothing Else Matters” and “The Unforgiven”. Songs from the album have been streamed more than seven billion times, Hipgnosis said.
Rock has also worked extensively with Bublé, and the 2007 duo Call Me Irresponsible won a Grammy for Best Traditional Pop Vocal Album.
The value of the music deals was not disclosed.
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