In 2020, many producers and songwriters were selling their catalogs and rights to their music to Hipgnosis Music, with artists like RZA, No I.D., and Rodney Jerkins selling portions of their catalog to the company.
It has been revealed that Jimmy Iovine has sold his worldwide producer royalties to the company. According to reports, Hipgnosis acquired 259 songs as well as Iovine’s production in films like 50 Cent’s ‘Get Rich or Die Trying,’ along with ‘8 Mile.’ Previously, the amounts for producers like RZA and No I.D. were revealed. However, Iovine’s payout for his catalog was not disclosed. Iovine spoke on the recent acquisition, saying:
“I’m happy that my work as a producer with so many great artists has found the right home with Merck and Hipgnosis. I am going to use the proceeds from the deal to help Iovine Young Academy’s initiative to build a high school in South LA as part of the Iovine Young Academy at USC and continue our efforts to support education.”