The trust has moved to a 13pc discount, which is a rare event in its three-and-a-half-year history. Investors have been less understanding, however. Hipgnosis has also been supportive, even though its revenues could be impacted by the public spat. These belong to Mr Young’s record label, Warner Records, which has supported the artist in taking a stand against Spotify and Mr Rogan. However, the trust does not own the star’s “master rights”, which relate to how his recordings are used. Hipgnosis owns 50pc of the copyright and income interests of Mr Young’s entire catalogue, which means it is entitled to collect royalties when the star’s songs are sold, streamed, performed or broadcasted. ![]() The star, whose hits include Heart of Gold, issued the ultimatum because he felt Spotify had given podcaster Joe Rogan a platform through which Covid misinformation was spread. Its shares have fallen 10pc since Jan 24, the date that Canadian singer and songwriter Neil Young asked Spotify, the streaming service, to remove his recordings. Investors in Hipgnosis Songs Fund, a trust that owns the rights to popular songs, will have noticed that share price performance has been a little off-key in recent times. ![]() ![]() Questor investment trust bargain: songs fund that owns Canadian star’s catalogue did well to back him in his row with streaming service Questor: Hipgnosis hits the right note despite getting caught in the Neil Young-Spotify crossfire
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