Kenny Chesney has joined the ranks of artists who have sold the rights to their hit music catalogs. The country superstar has sold 80% of his catalog’s royalty rights to Hipgnosis Song Management, Variety reports.
According to VarietyChesney’s contract with Hipgnosis includes his catalog from his 1994 debut album, In my wildest dreamsall along Living in the nation without shoes as of 2017. The deal covers 22 albums, including 15 that achieved Platinum certification.
The deal Hipgnosis signed with Chesney is the first the company has reached since it recently partnered with Blackstone to acquire music rights and administer song catalogs, according to Variety. Chesney’s catalog includes 32 No. 1 hits, including “She’s Got It All”, “How Forever Feels”, “The Good Stuff”, “When the Sun Goes Down”, “The Boys of Fall”, “Come Over” and many more Suite.
Financial terms of the agreement are not disclosed.
“Kenny Chesney is one of America’s greatest artists. He has brought joy to music fans around the world for nearly 30 years,” Hipgnosis founder and CEO Merck Mercuriadis said in a statement. “His incredible success of over 30 million records sold including nine No. 1 albums on the all-genre Billboard 200 charts and 17 #1 albums on BillboardThe country chart of tells you everything you need to know. Add to that his unparalleled success as a touring artist and the juggernaut that is No Shoes Radio, and you realize Kenny is truly a phenomenon. It is a pleasure and a privilege to welcome Kenny and [manager] Clint [Higham] to the Hipgnosis Songs family and we are delighted to launch our new Blackstone-backed fund with this landmark acquisition.
“Knowing that this music has a house that sees work as a collective body, something that builds on itself and captures the heart of No Shoes Nation, was important to me. How these songs live on in the future is essential, and I think Merck has the best interest not only for the recordings, but also for the people who love them, as a main interest,” adds Chesney. “For people who love these songs and albums, it’s a storyline that allows the music to grow and reflect who those of us who live inside those songs really are.
Chesney is one of a growing number of high-profile artists who have sold their catalogs or a large part of them in recent years. Several of the names on rolling stoneThe recently released list of the highest-paid musicians of 2021 made much of that money from selling their rights. including Bruce Springsteen, who received $550 million for his catalog, and Paul Simon. Blake Shelton was the only country artist to make the list in 2021; he earned $83 million, $50 million of which came from the sale of his catalog.
PHOTOS: Take a look inside Kenny Chesney’s spectacular $14 million estate in Tennessee
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