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 firms like Hipgnosis, which, in accordance with the BBC, has been shopping for uprights to mega songs for the previous three years.
The firm spent over $1 billion gobbling uprights to music that additionally contains LA Reid’s track 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’s purchased is “more valuable than gold or oil” as “ their revenue isn’t affected by fluctuations in the economy” he tells the BBC.
“These great, proven songs are very predictable and reliable in their income streams. … If you take a song like the Eurythmics’ ‘Sweet Dreams’ or Bon Jovi’s ‘Livin’ On A Prayer,’ you’re talking three to four decades of reliable income. … If people are living their best lives, they’re doing it to a soundtrack of songs. But equally, if they’re experiencing the sort of challenges we’ve experienced over the last six months, they’re taking comfort and escaping in great songs.”
And each time somebody performs these beloved songs, traders in Hipgnosis, just like the Church of England, profit financially.