Hipgnosis buys catalogue from producer Andy Wallace

Music rights fund Hipgnosis said it had bought a catalogue from Grammy Award-winning producer, mixer and engineer, Andy Wallace for an undisclosed sum.

Wallace, who is credited on albums with more than 120m worldwide sales, has collaborated with artists including Aerosmith, Bruce Springsteen, Coldplay, Foo Fighters, Guns N' Roses and Paul McCartney.

The catalogue of more than 17,000 songs generated 2020 revenues of $874,000, up from $784,000 a year earlier with 75% of tracks accessed via streaming services, Hipgnosis said.