Dave Stewart, the British musician and co-founder of the iconic band Eurthymics, has made significant strides in the music business beyond his chart-topping hits. His latest venture involves investing in music rights through Hipgnosis Songs Fund, a London-based company specializing in buying music catalogs.

Stewart's involvement with Hipgnosis was first reported in The Telegraph in August 2020. According to the article, Stewart joined the company as an advisor and investor, contributing an undisclosed amount to the fund. Hipgnosis has since acquired music catalogs from artists like Katy Perry, Neil Young, and Shakira.

Before his partnership with Hipgnosis, Stewart's music rights journey began with Eurthymics. The band, formed in 1978, achieved international success with hits like "Sweet Dreams (Are Made of This)" and "Would I Lie to You?". The band's music was published by Chrysalis Music, one of the major music publishing companies.

As the music industry evolved, so did the ways artists and writers could monetize their catalogs. In the late 1990s, Stewart and his Eurthymics bandmate Annie Lennox sold their publishing catalog to BMG Music Publishing for a reported £20 million. This deal gave BMG the rights to the royalties generated from the songs' performances, recordings, and synchronization in films, TV shows, and advertisements.

Music rights can come in various forms, including performing rights, mechanical rights, and synchronization rights. Performing rights are granted to artists and writers to perform their songs publicly, while mechanical rights allow the reproduction and distribution of recordings. Synchronization rights enable the use of a song in visual media like films, TV shows, and commercials.

Music rights societies like ASCAP, BMI, and SESAC collect and distribute royalties on behalf of songwriters and publishers. These organizations help ensure that artists and writers receive fair compensation for their work.

Stewart's investment in Hipgnosis marks his latest move in the music rights market. The company's approach of buying music catalogs from artists and writers and then collecting royalties from their performances has gained popularity in recent years. With his industry experience and connections, Stewart is expected to play a significant role in Hipgnosis's growth.

For more information on music rights and related topics, check out the following resources:

• Music Rights: An Overview
• What Are Music Publishing Rights?
• Music Rights Societies: ASCAP, BMI, and SESAC

Source: The Telegraph - Dave Stewart joins Hipgnosis Songs Fund as advisor and investor