“This catalog represents the culmination of my life’s work,” Rod Stewart stated in a statement. Rod Stewart is keeping his musical catalog for the time being. After two years of talks with Hipgnosis Songs Capital, the singer, 78, has decided not to sell his iconic catalog to the UK investment firm, preferring to keep ownership himself. “This catalog represents my life’s work,” he said in a statement to Music Week. “And it’s become abundantly clear to me, after much time and due diligence, that this was not the right company to manage my song catalog, career, or legacy.
” Stewart is a two-time Rock and Roll Hall of Fame inductee recognized for singles such as “Da Ya Think I’m Sexy?” “Maggie May,” and “Tonight’s the Night (Gonna Be Alright),” as well as his characteristic raspy voice and spiky blonde hair. He is the second-most successful British solo musician of all time, with a catalog of more than 65,000 songs. He began his career with bands such as the Faces and the Jeff Beck Group before going solo in the late 1960s and making his breakthrough with Every Picture Tells a Story in 1971. In 2021, he will release his 31st album, The Tears of Hercules.
Meanwhile, Hipgnosis describes itself as “the first UK investment company offering investors a pure-play exposure to Songs and associated musical intellectual property rights.” In January, the business paid an estimated $200 million for the rights to Justin Bieber’s repertoire, and in 2021, it acquired the works of Fleetwood Mac rockers Lindsey Buckingham and Christine McVie, Shakira, Neil Young, and others. When contacted by PEOPLE, a Hipgnosis spokeswoman declined to comment, citing ongoing negotiations. Billboard was the first to break the story.