Locked music lovers dust off golden playlists to remember the time they spent with friends, syncing songs like Don’t Stop Believin via microphones with kitchen clips.
The 1981 classic Journey, Don’t Stop Believin ‘, watches 362,000 streams a week, returning it to the Top 200, and a Nielsen survey found that almost two-thirds of people said they turned to old favorites thanks to the closing.
The increase in music streaming has been to the advantage of a clever investment fund, which purchases the rights to classic songs from artists like Bon Jovi and The Beatles, paying investors a share of each piece.
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Background of hypnosis songs
SONG,
he broke the trend by announcing a constant quarterly dividend of 1.25 pence due on May 29, offering investors a dividend yield of around 5%. The massive suppression of payments to investors elsewhere due to the coronavirus has now exceeded £ 30 billion ($ 36 billion), analysts said.
The fund traded at 85 pence in March before falling to 105 pence on Thursday. Its net asset value was 102.15 pence on January 10.
The founder of hypgnosis, Merck Mercuriadis, said that was the reason the fund was launched. “Music revenues are not correlated with what is going on in the market,” he told MarketWatch. “If someone like you is living a better life and celebrating a soundtrack, or experiencing the types of challenges we are experiencing right now, we feel comfortable with the music.”
Mercuriadis, a former manager of stars including Elton John and Beyoncé, is expecting a small boost in income from live events and paid seats for song licensing, but thinks it will pay off as people turn to music to help them overcome blockages.
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“We didn’t want a pandemic to test the thesis. But you know, the pandemic has done just that, “he said.
The founder of Hipgnosis Songs Fund Merck Mecuriadis (on the left) with the co-founder of Chic Nile Rodgers, whose classic Le Freak is part of the SONG catalog
Jill Furmanovsky
His recent acquisitions include 70% of the catalog of Mark Ronson, who wrote Shallow, sung by Lady Gaga and Bradley Cooper in the blockbuster movie A Star Is Born. Mercuriadis said the fund had an additional £ 1 billion in pipeline purchases.
The fund’s philosophy is to choose proven tracks to use as cash cows for investors seeking to avoid volatile markets, and it has six of the 10 most played songs of the 2010s, including pop star hits. Ed Sheeran and The Chainsmokers. .
Alinka Greasley, music psychology expert at the University of Leeds, told MarketWatch that people are looking to the good old days of closure because they are replacing social bond and can remind people of the time. they spent with their friends and family. .
“Listening to music we have heard with other people,” he said, “whether it be concerts, theater, opera, or nightclub nights … it brings back memories of ‘other people, which in this moment of isolation is very important.’ for the people.”
People also use music to increase productivity when trapped at home, whether as a soundtrack for housework, helping with exercise, or using kitchen utensils as a microphone, he said. she declared.