Hipgnosis Song Management, the investment adviser for Hipgnosis Songs Fund, the acquisitive music rights powerhouse, taps Ben Katovsky as president and COO.
With effect from Oct. 1, Katovsky will lead daily operations of the business and overseeing Hipgnosis’ Song Management teams, reporting to CEO Merck Mercuriadis.
Katovsky is tasked with maximizing opportunities for Hipgnosis’ substantial administered catalogs, and lead strategic initiatives such as the development of proprietary technology and data platform, a spokesperson explains.
In a parallel move, Ted Cockle becomes chief music officer overseeing marketing, sync and promotion, in addition to the business’ relationships with songwriters, artists, managers and DSPs.
Cockle, the veteran Universal Music Group executive who went on to serve as Virgin EMI president, joined Hipgnosis Songs as president back in 2020.
“We’ve had an incredible four years at Hipgnosis Song Management but we are still only just beginning,” comments Mercuriadis. “I don’t believe there is anyone better than Ben Katovsky to help us reach the goals we have set for Hipgnosis. He has all the qualities of leadership, innovation and ambition and believes in our mission of establishing Song Management as the new paradigm while at the same time using our success to advocate for songwriters. I am delighted to welcome him to the Hipgnosis family as our President & COO and look forward to a long rewarding relationship.”
Katovsky boasts almost two decades’ experience in the music industry, most recently in a seven year stint as chief operating officer at BMG.
“What Merck has built at Hipgnosis in such a short period of time is truly incredible,” he comments. “Equally remarkable though is the ambition to build further on this success and the passionate desire to create even greater opportunities for songwriters and artists alike.
Hipgnosis has wasted no time. In those four years, the business muscled into the rights game, raised funds and embarked on an extraordinary spree.
London-based Hipgnosis Songs Fund Ltd recently announced that revenue for its fiscal year ended March 31 jumped 24.7 percent, “partly due to the catalog acquisitions during the period.”
As of last month, Hipgnosis’ portfolio included 146 catalogs with 65,413 songs with an aggregate value of $2.69 billion.
It acquired eight catalogs in the latest fiscal year, with songs from the likes of the Red Hot Chili Peppers, Christine McVie of Fleetwood Mac, Ann Wilson of Heart and Rhett Akins.