Church of England co-owns Beyonce, Justin Timberlake songs
The subsequent time the Church of England asks for a donation, Brits ought to simply pull out their telephones and play Justin Timberlake’s “SexyBack.”
File this beneath “Who Knew?”: The staid Church of England is a co-owner of Beyoncé’s “Single Girls,” Rihanna’s “Umbrella” and Justin Timberlake’s “SexyBack.”
The Church — whose head is the notoriously unhip Queen of England — has been bolstering its coffers by investing in firms like Hipgnosis, which, in response to the BBC, has been shopping for up rights to mega songs for the previous three years.
The corporate spent over $1 billion gobbling up rights to music that additionally consists of LA Reid’s track catalog (which has shares in Boyz II Males’s “Finish Of The Street”, Whitney Houston’s “I’m Your Child Tonight” and Bobby Brown’s “Don’t Be Merciless”), in addition to music by Blondie, Barry Manilow and Mark Ronson.
Hipgnosis founder Merck Mercuriadis claims the music he’s purchased is “extra precious than gold or oil” as “ their income isn’t affected by fluctuations within the financial system” he tells the BBC.
“These nice, confirmed songs are very predictable and dependable of their earnings streams. … If you happen to take a track just like the Eurythmics’ ‘Candy Goals’ or Bon Jovi’s ‘Livin’ On A Prayer,’ you’re speaking three to 4 a long time of dependable earnings. … If individuals are residing their greatest lives, they’re doing it to a soundtrack of songs. However equally, in the event that they’re experiencing the form of challenges we’ve skilled over the past six months, they’re taking consolation and escaping in nice songs.”
And each time somebody performs these beloved songs, traders in Hipgnosis, just like the Church of England, profit financially.
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