Kenny Chesney has sold the majority of his catalog of music to Hipgnosis Song Management, the company announced late last night. In a deal with undisclosed terms, Chesney sold 80 percent of his multi-platinum collection of country hits. The deal includes the rights to all Chesney music from his ’94 debut (“In My Wildest Dreams”) through his 2017 album “Live in No Shoes Nation.”
All together, Hipgnosis bought 22 albums spanning 23 years of classic country, beach jams, and good-time anthems. A staggering 15 of those 22 albums became certified platinum over their lifespans.
This acquisition is the first for Hipgnosis since partnering with private equity fund behemoth Blackrock to begin buying classic catalogs. Blackrock dabbles in all sorts of investment properties, but has shown a strong propensity to invest in entertainment and technology as of late. No doubt they paid handsomely for the coveted Chesney song rights.
A Brief Recap of Chesney’s Career
Chesney is one of the top artists in country music history. He toured steadily for over two decades in support of his many albums. One of the top-grossing live artists of all-time, Chesney also sold over 30 million albums worldwide in the span of his career.
Chesney won Entertainer of the Year from both the Academy of Country Music and the Country Music Association four times each. He also collected six Grammy nominations; though, surprisingly, he never won the award.
Some massive hits and summer anthems included in the mega-deal are “The Good Stuff,” “There Goes My Life,” “How Forever Feels,” “When The Sun Goes Down,” “Never Wanted Nothing More” and “Summertime.”
What Everyone Is Saying About the Deal
Hipgnosis founder-CEO Merck Mercuriadis said about the deal: “Kenny Chesney is one of the truly great American artists. He has been bringing joy to music fans all over the world for almost 30 years. His incredible success of more than 30 million records sold, including nine No. 1 albums on the all-genre Billboard 200 chart and 17 No. 1 albums on Billboard’s Country chart, tells you everything you need to know.
“Add in his unparalleled success as a touring artist and the juggernaut that is No Shoes Radio, and you realize Kenny is genuinely a phenomenon,” Mercuriadis continued. “It’s a pleasure and a privilege to welcome Kenny and [his manager] Clint [Higham] to the Hipgnosis Songs family. We are delighted to launch our new Blackstone backed fund with this landmark acquisition.”
Chesney, himself, also commented on the deal, calling the sale a chance for the music to grow.
“To know that this music has a home that views the 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 going forward is critical. And I believe Merck has the best interests of not just the recordings but the people who love them. For the people who love these songs and albums, this is a scenario that allows the music to grow and reflect who those of us living inside these songs truly are.”
