HEART OF GOLD COIN

Neil Young Sells 50% Stake in His Music Catalog to U.K. Investment Company

The move comes after Bob Dylan and Fleetwood Mac’s Lindsey Buckingham also began selling off the rights to their songs amid the pandemic.

Neil Young sold a 50 percent stake in the rights to his music catalog to Hipgnosis, a U.K. investment company, this week. The folk singer is the latest in a string of artists looking to capitalize on streaming and make money during a pandemic that’s put a halt to live performances. “I bought my first Neil Young album aged 7. ‘Harvest’ was my companion and I know every note, every word, every pause and silence intimately,” Hipgnosis founder Mark Mercuriadis said in a statement on Wednesday. The deal is estimated to be worth $150 million. Young has 1,180 songs and Hipgnosis now has the rights to the songs’ worldwide copyright and income interests. Mercuriadis said fans shouldn’t expect any commercial use of Young’s music. “There will never be a ‘Burger of Gold,’” he said, referencing Young’s hit song “Heart of Gold.”