The subsequent time the Church of England asks for a donation, Brits ought to simply pull out their telephones and play Justin Timberlake’s “SexyBack.”
File this underneath “Who Knew?”: The staid Church of England is a co-owner of Beyoncé’s “Single Ladies,” Rihanna’s “Umbrella” and Justin Timberlake’s “SexyBack.”
The Church — whose head is the notoriously unhip Queen of England — has been bolstering its coffers by investing in corporations like Hipgnosis, which, according to the BBC, has been shopping for up rights to mega songs for the previous three years.
The firm spent over $1 billion gobbling up rights to music that additionally consists of LA Reid’s music catalog (which has shares in Boyz II Men’s “End Of The Road”, Whitney Houston’s “I’m Your Baby Tonight” and Bobby Brown’s “Don’t Be Cruel”), in addition to music by Blondie, Barry Manilow and Mark Ronson.
Hipgnosis founder Merck Mercuriadis claims the music he is purchased is “extra invaluable than gold or oil” as ” their income is not affected by fluctuations within the economic system” he tells the BBC.
“These nice, confirmed songs are very predictable and dependable of their revenue streams. … If you are taking a music just like the Eurythmics’ ‘Sweet Dreams’ or Bon Jovi’s ‘Livin’ On A Prayer,’ you are speaking three to 4 many years of dependable revenue. … If individuals are dwelling their finest lives, they’re doing it to a soundtrack of songs. But equally, in the event that they’re experiencing the kind of challenges we have skilled during the last six months, they’re taking consolation and escaping in nice songs.”
And each time somebody performs these beloved songs, buyers in Hipgnosis, just like the Church of England, profit financially.