Hipgnosis Songs has acquired a music catalogue from Jason Boyd, the US-based songwriter and producer known as Poo Bear.
The music copyrights investment company, which has Nile Rodgers on its advisory board, raised £200 million for its IPO in the summer. It has already invested in the songwriting catalogue of The-Dream.
Poo Bear has collaborated, and had Top 10 hits, with artists including Usher, David Guetta, DJ Khaled, Chris Brown, Fifth Harmony, Jennifer Lopez and Skrillex. He is best known as one of Justin Bieber’s closest collaborators.
Poo Bear co-wrote nine out of 13 songs on Bieber’s album Purpose, which has sold over 14 million copies worldwide and is certified five times platinum in the UK. The catalogue includes What Do You Mean?, which has sold over 14 million copies worldwide the English language version of Despacito with Bieber.
Hipgnosis will acquire a 100% interest in the catalogue, which comprises 214 songs in total.
Merck Mercuriadis, founder of The Family (Music) and Hipgnosis Songs Fund, said: “It’s fortuitous to be able to acquire a song catalogue of this importance so early in its life. Poo Bear is an extraordinary young man whose songs have not only been No 1 and won Grammy Awards but also have a long life in front of them.
“In a streaming world that is growing every day, his songs are at the forefront. Despacito on its own was No 1 in more than 50 countries and is one of those truly rare songs that has united the globe. I’m delighted to welcome him to the Hipgnosis Songs Family.”
Poo Bear said: “I’m extremely honoured and blessed to join forces with Merck, Nile, The Dream and Hipgnosis. This is something I’ve been working towards for 22 years and I finally feel confident and comfortable that I’m doing this deal with the best company in the business. It’s beyond the money, it’s the assurance that my catalogue will be respected and taken to even greater heights of success.”