Ben Katovsky has been appointed President and Chief Operating Officer of Hipgnosis Song Management, reporting directly to the firm’s CEO, Merck Mercuriadis.
Katovsky will lead daily operations of the business, overseeing the maximization of opportunities for Hipgnosis’ administered catalogs while also leading strategic initiatives such as the development of Hipgnosis’ proprietary technology and data platform.
Katovsky has almost two decades’ experience working in the music industry, with particular expertise in the commercial and operational management of music catalogs.
Katovsky will take up his new position with Hipgnosis on October 1, 2022.
Hipgnosis Song Management is the investment advisor (and catalog manager) for two funds: The publicly-listed Hipgnosis Songs Fund, and the Blackstone-backed private fund, Hipgnosis Songs Capital.
Today’s news comes as Hipgnosis is reported to be in the race to buy the Pink Floyd back catalog, via the private Blackstone-backed fund.
The other companies still in the bidding process for the Floyd catalog are Sony Music, Warner Music, BMG, and Primary Wave, according to the FT’s sources – who suggest that the band is seeking GBP £400 million or more for its bundle of rights.
Commenting on the appointment of Ben Katovsky, Merck Mercuriadis CEO and founder of Hipgnosis Song Management, said: “We’ve had an incredible four years at Hipgnosis Song Management but we are still only just beginning.
“I don’t believe there is anyone better than Ben Katovsky to help us reach the goals we have set for Hipgnosis. He has all the qualities of leadership, innovation and ambition and believes in our mission of establishing Song Management as the new paradigm while at the same time using our success to advocate for songwriters.
“I am delighted to welcome him to the Hipgnosis family as our President & COO and look forward to a long rewarding relationship.”
“I don’t believe there is anyone better than Ben Katovsky to help us reach the goals we have set for Hipgnosis.”
Merck Mercuriadis, Hipgnosis
Ben Katovsky, President and Chief Operating Officer, Hipgnosis Song Management Limited said: “What Merck has built at Hipgnosis in such a short period of time is truly incredible. Equally remarkable though is the ambition to build further on this success and the passionate desire to create even greater opportunities for songwriters and artists alike.
“As someone who has always loved being at the forefront of innovation in our industry, I am incredibly excited about working with Merck and the Hipgnosis team to drive this ambition and to ensure that our phenomenal and growing catalog enjoys the legacy it so richly deserves.”
With Katovsky joining Hipgnosis Song Management, Ted Cockle – currently Hipgnosis’ President – becomes Chief Music Officer at the company.
Cockle will oversee Marketing, Synch and Promotion as well as Hipgnosis’ relationships with Songwriters, Artists, Managers and the Digital Service Providers.
To date, the billion-dollar-backed privately-funded vehicle that Hipgnosis has in place with Blackstone has acquired copyrights and/or income streams from the likes of Leonard Cohen, Justin Timberlake and Nelly Furtado.
This fund recently began the launch of a nine-figure bond offering, as its ≈950 songs were valued independently as being worth USD $341.0 million.Music Business Worldwide