‘Queen of Latin Music’ Shakira tunes into trend of selling music rights By Reuters

(Reuters) – Colombian pop superstar Shakira has become the latest artist to sell the rights to her 145-song catalog to London-listed Hipgnosis Songs Fund, the investment firm said on Wednesday, as the coronavirus crisis smash concert proceeds. The three-time Grammy Award winner, famous for her songs like “Hips Don’t Lie”, “Whenever, Wherever”, “Underneath Your Clothes” and the 2010 FIFA World Cup song “Waka Waka (This Time For Africa ) “, has sold more than 80 million records and has a large following on music streaming platforms Spotify (NYSE 🙂 and YouTube. The pandemic has practically shut down earnings from live concerts and a growing list of musicians have sought to monetize their backlogs. Bob Dylan sold his back catalog last month and has been followed by others, like Neil Young. A surge in online music streaming, which has sent several old hits to the top of today’s charts, has added to the appeal for investors. JP Morgan said that Hipgnosis was an attractive investment given its long-term income due to copyright laws. “At age eight, long before I sang, I wrote to make sense of the world,” Shakira, 43, said in a statement. “Every song is a reflection of who I was at the time I wrote it, but once a song goes out into the world, it doesn’t just belong to me, but also to those who appreciate it,” he said. “I know Hipgnosis will be a great home for my catalog.” The specialist investment firm did not disclose financial details of the deal, which is Hipgnosis’ latest after others this year with Neil Young, Fleetwood Mac guitarist Lindsey Buckingham and record producer Jimmy Iovine. Bob Dylan sold his back catalog to Universal Music Group in December. Hipgnosis founder Merck Mercuriadis welcomed the deal with Shakira, calling her “the Queen of Latin Music.” “What no one should take for granted is that she is one of the most serious and successful songwriters of the last 25 years, having written or co-written virtually every song she has recorded,” he said.

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