Colombian singer Shakira has become the latest big-name artist to cash in on her hit catalog, selling the publishing rights to London-based investment house Hipgnosis for music royalties.
The most successful Latino singer of all time, with more than 80 million albums sold in her name, Shakira has sold the rights to her catalog of 145 songs for an undisclosed sum. A series of hits for the three-time Grammy winner, which began with the release of her first album in 1991 at the age of 13, includes Hips Don’t Lie, Whenever, Wherever and the 2010 FIFA World Cup song Waka Waka.
“Being a songwriter is an achievement that I consider equal, and perhaps even greater, than being a singer and an artist,” Shakira said. “At the age of eight, long before I sang, I wrote to understand the world. I know Hipgnosis will be a great home for my catalog. “
Stomach Stomach has prompted investors to invest their money in companies like Hipgnosis, clothing from the London Stock Exchange, which receives part of the royalties from songs it owns every time they are played on the radio, broadcast or used in places like department stores, as well as sales revenue albums, singles and use in TV commercials and movies. Hypgnosis, co-founded by legendary producer Neil Rodgers, has raised 1.2 billion pounds from investors since its launch in 2018 and has acquired more than 120 catalogs to date.
Last month, Bob Dylan sold the rights to release his entire 600-song catalog, including Blowin ‘in the Wind and Knockin’ on Heaven’s Door, to Universal Music for about $ 300 million (£ 220 million) in the largest music edition in recent years. decades.
Stars with evergreen hits like Dolly Parton – who controls the rights to 3,000 songs, including I Will Always Love You, whose 1992 cover of Whitney Houston was a global phenomenon, and 9 to 5 – said they were considering a sale as part of “estate planning.” as they approach the end of their careers. Among others are Barry Manilow, Chrissie Hynde and Stevie Nicks, singer and freelance artist Fleetwood Mac who sold a majority stake in her catalog for $ 100 million to music publisher Primary Wave.
Hipgnosis said it has already identified a series of catalogs worth more than a billion pounds that it is negotiating a purchase this year. Last week, the company announced three contracts that paid about $ 150 million for a 50% stake in the rights to 1,180 songs by Neil Young, bought former Fleetwood Mac guitarist Lindsey Buckingham’s catalog and reached an agreement with superproducer Jimmy Iovine.
Iovine, who co-founded headphone maker Beats with Dr. Dre, which Apple subsequently bought for $ 3 billion in the technology company’s largest contract ever, has production rights to a 259-song catalog that includes albums created with John Lennon and Bruce Springsteen and Tom Petty and the Heartbreakers. He also co-produced 8 Mile, a 2002 film starring Eminem, which included the mega-hit Lose Yourself, and Get Rich or Die Tryin ‘, starring rapper 50 Cent.