The deal covers copyright and income for 1,180 songs, Hipgnosis said in a statement on Wednesday.
Young is the latest in a series of artists to close rights deals, as streaming helps increase the value of previous catalogs. Industry experts estimate the deal is worth about $ 150 million, reports the specialized publication Music Business Worldwide.
Young became a household name in the 1960s, both as a solo artist and as part of bands like Buffalo Springfield, Crazy Horse and Crosby, Stills, Nash & Young.
The influential composer has released nearly 50 studio albums and is twice a member of the Rock & Roll Hall of Fame, as a solo artist and as a member of Buffalo Springfield.
“This is an agreement that changes Hipgnosis forever,” said Hipgnosis founder Merck Mercuriadis, who wrote in the declaration of his longstanding love for Young’s music.
“I bought my first Neil Young album at 7 years old. ‘Harvest’ was my companion and I know every note, every word, every pause and silence intimately. Neil Young, or at least his music, has been my friend and constant ever since. “
Hipgnosis bought the rights to thousands of songs after its initial public offering. The company, which is listed in London, says it gives investors “pure and simple exposure to songs and associated musical intellectual property rights”.
Before creating Hipgnosis, Mercuriadis managed artists like Elton John, Guns N ‘Roses, Morrissey, Iron Maiden and Beyoncé.
And on Monday, Hipgnosis announced a 100% royalty agreement from the world producer for the catalog of 259 songs by influential producer Jimmy Iovine, as well as royalties for the production of Eminem’s “8 Mile” and “Get Rich or Die Tryin ‘of 50 Cent. “
The deal was a major change for the singer and songwriter, who controlled much of his intellectual property, according to several reports. Financial terms of the sale were not released, but the New York Times said it was estimated at more than $ 300 million.