Hipgnosis secures music catalogue of Bon Jovi songwriter
Music royalties investment firm Hipgnosis today said it has bagged the rights to the complete catalogue of Bon Jovi lead guitarist and songwriter Richie Sambora.
The London-listed company said it has acquired all 186 songs inked by Sambora, who was inducted into the Rock and Roll Hall of Fame in 2018 alongside Jon Bon Jovi.
Sambora is best known as a member of the iconic US rock band, and has writing credits on hits including You Give Love a Bad Name and Livin’ on a Prayer.
Bon Jovi have sold more than 130m records worldwide, making them one of the most successful bands of all time.
The New Jersey rock group remains one of the most popular bands of its era, with Slippery When Wet and Livin’ on a Prayer ranking in the top 10 most streamed albums and songs respectively of the last 35 years.
Sambora has also released three solo albums that have sold more than 2m copies worldwide, and co-wrote Cher’s eponymous comeback album in 1987, as well as follow-up Heart of Stone.
“In uncertain times such as this you are reminded of the power of great songs and great music and amongst the greatest set of songs of the last 35 years are the incomparable songs Richie Sambora co-wrote for Bon Jovi and other great artists,” said Hipgnosis co-founder Merck Mercuriadis.
“He’s a musician’s musician and a songwriter’s songwriter and is one of the very precious few that is an inductee of both the Songwriters Hall of Fame and the Rock and Roll Hall of Fame.”
Hipgnosis, which was earlier this month added to the FTSE 250 index, has posted a huge surge in profit over the last six months as it pursues an aggressive acquisition strategy.
The firm now holds the rights to five of the top 10 songs of the decade, as ranked recently by Billboard Magazine, including Shape of You by Ed Sheeran and Justin Bieber’s chart-topper Despacito.