MBW’s Stat Of The Week is a series in which we show why a single data point deserves the attention of the global music industry. Stat Of the Week is supported by Cinq Music Group, a technology-driven record label, distribution and rights management company.
Few could argue against the fact that when Merck Mercuriadis floated the Hipgnosis Songs Fund on the London Stock Exchange in the summer of 2018, it changed the face of the music business.
On that IPO, Mercuriadis raised over £ 200 million (approximately $ 265 million) through stock issues before Hipgnosis began trading on the LSE. That money set Mercuriadis and Hipgnosis on their way to become the most frequently acquisitive company in modern industry.
Though Hipgnosis’ rapid growth has since attracted a skeptic or two in the financial world, its early investors will be lucky bunnies: since that IPO in June 2018, the company’s share price has risen over 16% (through Jan 15, 2021) … Despite the little …