Red Hot Chili Peppers sell rights to catalogue of hits to Hipgnosis | Red Hot Chili Peppers

Red Hot Chili Peppers and Kid Creole and the Coconuts have turn into the newest artists to money in on their catalogue of hits, promoting the rights to songs together with Californication and Annie I’m Not Your Daddy to London-listed music royalties funding companies.

The Chili Peppers are poised to sell their publishing rights to London-listed music funding agency Hipgnosis, reportedly for greater than $140m (£101m).

Formed in 1982, the band have a catalogue of international hits together with Under The Bridge and Give It Away.

Hipgnosis, which has spent greater than £1bn previously three years shopping for up the royalty rights to evergreen music hits, declined to remark. In January, it acquired the rights to 50% of the royalties of Neil Young’s large catalogue of 1,180 compositions in a deal reportedly price about $150m. Since the beginning of the year the company has additionally struck offers with Shakira, former Fleetwood Mac guitarist Lindsey Buckingham and super-producer Jimmy Iovine.

Over the final year huge offers have included Bob Dylan promoting his songwriting catalogue to Universal Music for $300mand Fleetwood Mac’s Stevie Nicks doing a $100m take care of Primary Wave.

In January, One Media iP Group acquired the rights to a string of Take That hits together with A Million Love Songs in a take care of songwriter and producer Ian Levine.

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Separately, Kid Creole and the Coconuts – the Nineteen Eighties band fronted by Kid Creole, born August Darnell in New York in 1950 – have bought the author’s share of royalties to a catalogue of greater than 250 tracks to One Media iP Group.

The worth of the deal was not disclosed.

“One Media is a natural home for my music because they are focused on digital, nowadays there are hundreds of platforms,” mentioned Darnell. “Kid Creole has to look after his Coconuts’ way into the future and that’s why I’ve done the deal.”

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