Hipgnosis boss: Music industry at risk from ‘gluttonous’ record labels Hipgnosis founder Merck Mercuriadis said there was not a "fair and equitably" split of music royalties (Getty Images for SXSW) The music industry is under threat from “gluttonous” record labels taking royalties away from artists and songwriters, the boss of music investment firm Hipgnosis has said. Merck Mercuriadis accused the major record companies of “trying to take everything for themselves”, warning that some artists were unable to survive off royalty income as a result. “The biggest threat to the music business right now is not financial, it’s that it is discouraging the great artists of the past, present and future from being a part of this business because of the gluttonous tactics of the record companies,” he told