Music royalties specialist Hipgnosis has continued its recent run of strong form, securing the rights to the music catalogue of The Chainsmokers.
Hipgnosis said it has acquired 32 songs by the DJ duo, who have bagged 55 number ones and rack up 41m monthly listeners on Spotify.
The Chainsmokers, made up of artist and producer pair Alex Pall and Andrew Taggart, were this year named the world’s highest-paid DJs, knocking Calvin Harris off the top spot. The DJs pulled in roughly $46m (£37.8m) before tax last year, according to Forbes.
The deal is the latest in a string of acquisitions for Hipgnosis, which has been beefing up its portfolio of music.
The company, which allows shareholders to invest in song catalogues, has recently secured the rights to music by Ed Sheeran songwriter Benny Blanco and Eurythmics co-founder Dave Stewart.
“The Chainsmokers are the highest paid duo in the world not only because they know how to spin records better than anyone else, but because they have created some of the very biggest hits in the world for the dance and pop community over the last seven years,” said Hipgnosis founder Merck Mercuriadis.
“This is a set of songs that people can’t stop playing and that will define the lives of so many people that have grown up in the 2010s.”
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